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8 August 2024
According to Samba TV, as of August 4, more than one million U.S. households have streamed the first episode of the limited-edition Netflix documentary about U.S. Olympic gold medalist Simone Biles, “Simone Biles Rising,” and millions more are streaming the Paris Olympics live—the most-streamed Olympics of all time.
The number underscores the growing trend of U.S. households streaming video entertainment to their televisions rather than watching network shows.
In the first half of 2024, U.S. households watched a record amount of over-the-top (OTT) content, up 40% from 2023. That increase coincides with a 1% decline in linear TV viewing as audiences age and live events move to streaming platforms, continuing the trend of cable cancellation, according to Samba’s State of Viewership Report for the first six months of the year.
Free ad-supported streaming TV (FAST) and ad-supported SVOD variants are becoming important ways for advertisers to reach viewers who are increasingly turning away from traditional cable TV and broadcast. This shift to ad-supported streaming offers numerous opportunities for advertisers to target younger viewers and adapt to the evolving media landscape.
Streaming TV has become ubiquitous, with 99 million U.S. households watching OTT content in the first six months of the year. However, streamers have their hands full preventing churn, with many viewers canceling their subscription after watching just one piece of content on a platform.
“The rise of ad-supported streaming and the decline of linear television illustrate a fundamental shift in the way audiences consume content,” said Ashwin Navin, co-founder and CEO of Samba TV, in a statement.
According to Navin, streaming video platforms are innovating to retain viewers as they fight tooth and nail for engagement in the battle for attention, while eroding the foundation of linear television.
The report found that drama was the leading genre for the half year, accounting for 68% of the top 50 most popular streaming shows. However, the importance of crime and mystery shows within the top 50 shows increased significantly compared to the previous year, and these were two of the genres with the highest binge rates.
All of the top 10 streaming programs for the half year were based on franchises such as books, video games, etc., led by Netflix’s “Fool Me Once” S1 and Max’s “House of the Dragon” S2. The dominance of original content in the streaming landscape shows the power of leveraging existing intellectual property to captivate audiences and drive streaming success.
“The advertising market focused on linear and CTV formats is showing stability, particularly in the pharmaceutical and healthcare sectors. In the entertainment sector, however, we are seeing declines as some advertisers shift their mix to social and digital media,” he said.
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