Magnite Research Finds 68% of CTV Viewers Use At Least One Live Streaming TV Service

Rhea-AI Summary

Magnite (Nasdaq: MGNI) released findings from a study indicating that 44% of cable subscribers would cancel their service if they could access live sports online. The survey conducted among 1,500 US adults revealed that 22% plan to cancel cable within six months. Notably, nearly half of live sports streamers found TV ads integral to their viewing experience, with 62% discovering new products through them. The results suggest a growing trend toward live-streaming subscriptions and a shift in the advertising landscape, highlighting the importance of engaging with audiences through connected TV (CTV).

Positive

• 44% of cable subscribers may cancel if live sports are more accessible through streaming.
• Engagement with advertising is high among live sports streamers, with 62% discovering new products through ads.
• 70% of live sports programming is watched in real time, indicating strong viewer interest.

Negative

• 22% of cable subscribers plan to cancel within the next six months, signaling potential revenue loss for traditional TV providers.

44% of cable subscribers said they would cancel cable if they could get access to live streamed sports and events

NEW YORK, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI), the world’s largest independent omnichannel sell-side advertising platform, released a study titled “CTV Live Streaming: TV’s Next Big Moment” that found broad adoption of live streaming TV among CTV viewers across all age groups.

"Anecdotally, we know that live TV, especially live sports, is unparalleled in its ability to get people engaged and we commissioned this study to better understand how people access and interact with this content," said Sean Buckley, Chief Revenue Officer at Magnite. "One of the findings from this study is that engagement with live content extends to the advertising that airs alongside it. With more audiences tuning into live TV via streaming, it’s another indicator that advertisers should be actively exploring this channel.”

Awareness around live streaming likely to increase adoption

While 22% of cable subscribers that were surveyed in the study said they plan to cancel their cable within the next six months, 44% said they would cancel cable if they could access live sports and events through streaming. The responses show that greater awareness and education around live streaming content may spur more cable subscribers to adopt streaming services in place of or in addition to their existing cable service.

Advertising is a key part of the live sports viewing experience

Compared to the overall sample, people who stream live sports showed higher levels of engagement with TV advertising. Nearly half of live sports streamers (49%) agreed with the statement ”TV ads are an important part of my TV watching experience” and 62% of live sports streamers said they had discovered new products as a result of watching ads on streaming services.

“CTV is a premium viewing experience with highly engaged audiences that can’t be reached via traditional linear and pay TV,” said Diana Horowitz, SVP, Advertising Sales at fuboTV. “Historically live sports kept audiences tied to their cable subscriptions. That’s no longer the case with live sports including marquee events and regional sports networks widely available on CTV platforms like fuboTV. In fact, 90% of our viewers watch fuboTV live and 93% of sports content on fuboTV is viewed live.”

Additional key findings include:

• Live sports streamers are likely to watch multiple ad-supported services with an average of 3.6 sports apps
• Sports fans prefer to watch live over watching on demand – 70% of live sports programming is watched in real time
• 67% sports streamers pay more attention to ads that match their lifestyle and interests
  

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Methodology

Magnite engaged Lucid (A Cint Group Company), a global market research provider, to conduct this study. The survey was fielded online within the United States from December 23-December 30, 2021 among 1,500 US adults between the ages of 18 and 64 who watch at least 7 hours of television per week. Unless otherwise specified, all references to groups (U.S. households, Total Adults, or Total Streamers) refer to respondents who participated in the study.

About Magnite

We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

Contacts
Kar Yi Lim
917-658-1994
klim@magnite.com

FAQ

What were the key findings of Magnite's study released in February 2022?

Magnite's study found that 44% of cable subscribers would cancel their service for live streaming sports, with 22% planning to cancel within six months.

How does live sports streaming affect advertising engagement according to Magnite?

The study revealed that nearly half (49%) of live sports streamers consider TV ads important, and 62% discovered new products from streaming ads.

What percentage of sports programming is watched live according to the study by Magnite?

The study indicated that 70% of live sports programming is watched in real time.

What implications does the study have for cable providers and live streaming services?

The findings suggest that cable providers may face significant subscriber losses, while live streaming services could see increased engagement and viewership.