Streaming has taken over as the dominant form of entertainment in many households. Netflix reigns supreme with over 220 million subscribers, while competing services like Disney+ and HBO Max continue to amass sizable audiences.
As more people turn to the convenience of streaming services, new opportunities emerge for advertisers to reach more households. How can your brand capitalize on this? Read about 2022’s six top streaming industry trends to find out:
1. More Time Spent Watching Video
According to Nielsen’s State of Play report, Americans increased their average weekly video consumption from “143.2 billion streamed minutes to 169.4 billion between February 2021 and February 2022.”
The report also predicts 93% of people will increase the number of paid streaming services they use over the next year. YouTube and other video streaming apps saw similar growth with long-form content. Since 2020, there has been 6% growth with over 38% of American viewers regularly consuming content of 10 minutes or longer.
More people prefer streaming content over other forms of video entertainment. In the same report, Nielsen estimated subscription video on demand now accounts for over 53% of all time spent watching content.
Takeaway: Video should be a core part of your advertising strategy. See more in our article, The Future of Video Ads.
2. More Media Consumption on Mobile Devices
Smartphones and tablets continue to dominate in 2022. People now spend more time on their personal devices than watching TV. To that end, streaming providers are optimizing their platforms for the hand-held experience.
Mobile apps are available for every major streaming service. These apps have optimizations to keep viewers engaged for longer periods of time. As a result, users now watch more video content than ever before.
Streaming services are now being bundled with new phone plans, highlighting mobile’s importance to future streaming service trends. For example, Verizon plans come with a 6-month subscription to Disney+. Even Apple offers their Apple TV+ service with the purchase of a new iPhone.
Takeaway: Make your video ads mobile-friendly, and take advantage of the ad platforms provided by these streaming services.
3. Live Streaming and Interaction
Live streaming continues to grow in popularity. Twitch currently has over 140 million unique visitors each month (up from 55 million in 2015). YouTube, Instagram, TikTok, and other social media platforms also let users stream themselves in some form or another.
These platforms also offer interactive elements, letting viewers communicate directly with the streamer. Users even build communities around their content, and monetize it through a wide variety of methods.
Takeaway: Use live streaming trends to your advantage—partner with active streamers who have a following or who will host live-streamed events for your brand.
4. Discovering New and Informational Content
In our own research from 2022, we found consumers often crave an element of discovery. It’s what we called the “TikTok Effect.”
In essence, they want platforms to serve them new and unexpected content outside their core interests. Platforms like TikTok and YouTube use complex user algorithms to make recommendations, delivering new content to their users.
Between 2020 and 2022, there was an increase of users getting onto social and video platforms to learn new skills or information outside of their core interests.
Takeaway: Make sure your brand has a presence on platforms like YouTube, TikTok, Facebook/Meta, and others. These platforms will automatically serve your content to users who are already interested in your brand.
5. Nostalgia-Driven Content
While discovering new content is important to many users, nostalgia remains a significant driving force behind much of today’s media, and that trend isn’t likely to disappear soon.
People who grew up in the 1980s, 1990s, and early 2000s are spending the most time and money on streaming right now. So naturally, reboots, sequels, and big franchises based on the pop culture they grew up with dominate the streaming waves right now.
Comic book movies continue to draw audiences. Reboots like Cobra Kai and Fuller House were hits. And revivals of beloved shows like Futurama and King of the Hill are currently in development. Even original content like Stranger Things uses 80s nostalgia to great success.
Takeaway: Capitalize on nostalgia in your advertising wherever it makes sense to do so.
6. Free Alternatives for Live News and Sports
While the growth of on-demand services like Netflix, Hulu, and YouTube have gotten a lot of attention recently, media platforms that cater to live events such as local and national news, sports, and traditional television channels remain popular as well.
Free ad-supported services like Pluto TV and Tubi, in particular, have been quietly gaining a following. Since its launch, Pluto TV reportedly has 64 million monthly active users, while Tubi currently stands at 51 million.
Takeaway: Don’t ignore these free, ad-supported platforms. Traditional television programming still has a place in modern media.
Use These Streaming Trends to Your Advantage
Incorporate these streaming industry trends into your next ad campaign by creating nostalgia-driven content geared toward mobile devices, and by brainstorming ways to partner with live streaming platforms.
If you’re struggling with where to begin, Channel Factory can help maximize the effectiveness of your next ad campaign with custom ad optimization, performance improvement, and more. Contact us today to get started. Want more insights on the streaming industry? View our list of predictions for digital video advertising.