In promising news for marketers continuing to chase video views, the number of adults streaming video has increased in recent years, according to a new report from the Video Advertising Bureau.
The report, entitled “Linear TV and OTT: Living Together in Harmony,” found that most adults (90 percent) aged 25 to 34 streamed videos, an 18 percent increase since 2016.
Moreover, the majority (73 percent) of those adults said they watch ad-supported video on OTT platforms. In all, total OTT streaming time increased by 28 percent compared to last year.
In part, these figures have undoubtedly increased because the number of homes with access to Internet has also increased to 67 percent (a 10 percent increase since 2017).
The VAB’s analysis showed that millennials—defined as adults aged 22 to 37—still prefer watching linear TV, but that 36 percent of the group could be reached by OTT exclusively, or in combination with linear TV.
“Combining linear TV and ad-supported OTT inventory can deliver even stronger campaign results and increased business outcomes for marketers,” said Sean Cunningham, VAB’s president and CEO, in a prepared statement.
Marketers will see benefits embracing both OTT and linear TV, the report found.
Viewing an ad on both linear TV and OTT platforms resulted in a twofold increase in brand favorability, according to the report.
Audiences, however, spend significantly more time with connected TV ads, compared to similar ads online—two times longer, according to the report.
“Advertisers utilized over 9 trillion premium TV ad impressions in the U.S. in 2018,” said Cunningham. “Adding OTT to the media mix will extend the reach and engagement of the premium, brand-safe environment marketers are demanding in order to drive product and services sales growth.”
Read the full report here.