Pandemic was the tipping point for CTV. Consumer adoption/HH reach zoomed 59% Q1 2020 to 94% Q3 2022
The growth of CTV |Streaming | OTT has been astronomical. It is hard to pin down the exact penetration number. I do look at many reputable sources. According to the latest report from Pixalate, Global Connected TV (CTV) Ad Supply Chain Trends Report, 94% of U.S. households are reachable via CTV open programmatic advertising.
I go back to my favorite chart the Diffusion of Innovation. Streaming | CTV| OTT has passed the innovators, early adopters, and early majority. We are well into the late majority if not the laggards. The pandemic warped time advancing streaming a decade ahead in only a few years
The pandemic changed many things. It likely changed the average age of internet commerce and the use of streaming technology. What was once intimidating became the norm.
65+, 75+ plus started ordering groceries online and became more comfortable with at-home shopping. Many moved to technology like zoom to meet with friends family and grandchildren, they also used it for their doctor visits.
It's certainly changed how we view movies, mostly at home now. Unfortunately, many theaters have closed. Many people were confined to their homes, and with nothing else to do they started binge-watch #CTV | #Streaming | #OTT.
The was a self-fulfilling prophecy. Device makers made devices easier to use. Content producers produced more content, Movie makers released movies directly to streaming, and big broadcasters were quick to jump ship, they opened up streaming platforms and all pledged a streaming-first mentality.
Link to Digday story http://bit.ly/3Gywuxb
Link to Pixalate report http://bit.ly/3GyLiMb