Published on March 20th, 2018 | by Brad Gibson0
As Apple readies for its move into video, streaming spending by Americans soars
Americans are spending more than $2 billion per month on streaming subscriptions with the average video subscriber is paying for three services, according to a new survey from analysis company Deloitte Insights.
The 12th edition of Deloitte’s Digital Media Trends Survey found that 55 percent of U.S. households now subscribe to at least one streaming service with more than 48 percent of U.S. consumers stream television content either every day or weekly, a number that was just 37 percent last year. This was the first U.S. streaming passed the 50 percent threshold. In under a decade, the percentage of US households subscribing to a paid streaming video service grew 450 percent, the survey revealed.
“Consumers now enjoy unparalleled freedom in selecting media and entertainment options and their expectations are at an all-time high,” said Kevin Westcott, vice chairman and U.S. media and entertainment leader, Deloitte LLP and author of the survey. “The rapid growth of streaming services and high-quality original content has created a significant opportunity to monetize the on-demand environment in 2018.”
The survey revealed that on average, U.S. consumers spend 38 hours watching video content each week, 15 hours (or 39 percent) of which is streamed. These numbers reflect the continuing rise of video content consumption over the past several years, and are driven particularly by streaming services, the survey concludes.
The survey also draws conclusions about generational approaches to content, finding that more than 60 percent of Gen Xers – most of whom are now older than 40 – stream movies.
The news from the survey comes as Apple works on its plans to create and produce a variety of streaming content for release beginning next year, including drama content and comedies.