With more people staying at home now, the overall watch time has increased by 80% YoY.
Businesses should understand that people are also shifting from cable TV to streaming platforms because it offers better relevance, access and control over the content. A cited report found an 800% increase in global watch time of ad-supported and purchased feature-length movies in the past year, while live content is up by 250%.
To cater to these consumers, brands should look to create more content that reflects consumers’ evolving circumstances. Google found that the content freshness and the ability to echo the changed reality adds to streaming’s appeal for consumers.
While the further fragmentation of audience and content might sound daunting to advertisers, it represents an opportunity for the better. Fragmentation will allow them to reach the exact audience they are looking for their products.
[5 minute read]