62% of Britons watch more SVOD since the pandemic began, even after lockdown
Advanced Television reports October 2021 data from Criteo that shows the popularity of SVOD (subscription video on demand) with British consumers has not waned since lockdown was lifted. Sixty-two percent of those surveyed said they were watching more content provided by paid streaming services now than they did before the onset of the coronavirus.
When it comes to what consumers prefer about these services, more than half of them say that platforms like Netflix, YouTube and Prime Video had higher entertainment value than linear TV channels, often for a much lower price. Currently, one-third of TV viewers in the UK are spending over £50 on a cable or satellite subscription, while just 1 in 8 spend the same amount on the popular video streaming services they use, combined.
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Increased time at home, versus pre-pandemic, was rated the top reason for subscribing to SVOD brands (56%), however, the ability to watch shows and films anytime, anywhere was also appealing (42%), as many people return to their busy daily lives.
Looking to the future, almost one-third of consumer respondents stated they would like to be watching more SVOD content this time next year. This will mostly be driven by Gen Z and Millennial cohorts who, on average, are watching videos on both free and paid streaming platforms far more than the average individual (42% vs 29% and 40% vs 29%, respectively).
Perhaps most importantly for advertisers, 40% of consumers claim that ads shown on SVOD platforms have had an impact on their purchasing behaviour over the past year.