Connectivity Rates for Connected TVs Rise to 79%: Futuresource
Consumers have been buying connected TVs at a growing rate, and there's finally research showing that many are using those TVs to connect to online content. According to a research report by London-based Futuresource Consulting, 79 percent of connected TV owners have actually connected those sets to the internet. Furthermore, 63 percent of connected TV owners use them to access an online service at least once per week.
The report looks at more than just connected TVs, showing that tablet computers are now used to view video more than any other entertainment activity. Across all countries, 57 percent of tablet owners use them for viewing video. Nearly a quarter (24 percent) use them to watch paid video. This rate is the highest in the United States at 34 percent.
All this online video viewing is leading to an increase in cord-shaving, where pay TV customers reduce their services, rather than cancelling them outright. In the U.S., 17 percent of cable or satellite subscribers have dropped a movie service from their subscription. Young adults and households with children are more likely to slim their pay TV bills. Of cord-shavers, 21 percent do so because they're getting their entertainment from subscription video services.
A study of online viewing for young people in four countries shows that YouTube is nearly as popular at television, and short videos are the favorite.
While the SVOD market generated the most revenue, led by Netflix, the TVOD market also showed impressive growth.