It’s no surprise that there is such a high demand for cheaper TV subscriptions and more affordable alternatives with the cost of cable and satellite TV ever rising.
With the rise of OTT services and video-on-demand, more viewers are streaming their favorite shows and movies on their mobile devices while on the go. Video-on-demand also is becoming more popular with older viewers due to its easy accessibility and low subscription rates.
The Mobile Trend
Many consumers have been using their smartphones to stream audio and video content from the comfort of their home or while they are on the go.
Studies have shown that nearly 47% of long-form content (movies) was streamed through mobile devices while short-form video (TV shows, YouTube videos, etc.) was ranked at 40% (Source). Due to this, researchers from Ooyala have noted an increase in VOD service subscriptions (SVOD) as well as ad-supported video-on-demand (AVOD).
It has been estimated that within years, standard TV will evolve into something that resembles as mix of SVOD and AVOD.
Currently, 50% of consumers in North America are using ad-supported video-on-demand services on their mobile devices and that number is soon to rise.
Video on Demand and Older Viewers
Older audiences tend to be slower to adopt advancements in technology and initially, this was true for OTT and VOD services. However, many researchers are finding that the consumers are ranging from teens to older viewers.
Bernstein research states that ad-supported video-on-demand programs grew 24% with viewers 25-54 years of age(soon to become the fastest-growing audience).
Research shows that Millennials have the highest usage of SVOD totaling to 39.9% while older viewers that range from 35-49 years of age showed at raise of 39% (Source).
We at TikiLIVE provide high quality video-on-demand services to all of our customers. Our services allows all consumers to access their favorite videos, TV shows, movies, and even radio shows on their mobile device through our smartphone app. Our mobile app allows our audience access all their favorite video and audio content from the comfort of their home, or while they are on the go. We give full access anywhere and anytime.