TV Viewership Statistics & Trends to Watch for in 2024

As we approach 2024, the TV viewing landscape is rapidly evolving, reflecting broader trends in media consumption and technological innovations.

This article will explore the latest TV viewership statistics and trends, providing key insights into the dynamic ways people are engaging with television today. From the increasing dominance of streaming services to the changing patterns in traditional TV watching, we’ll uncover the crucial TV viewership statistics that marketers and industry professionals need to monitor in the upcoming year.

1. Subscriptions to Streaming Platforms Are on the Rise

Streaming platform subscriptions are experiencing remarkable growth, with Netflix nearing 250 million global subscribers by the third quarter of 2023. In the U.S., video-on-demand subscriptions surpassed 205 million in 2023 and are projected to reach over 217 million by 2027.

These connected TV statistics highlight the shifting preference from traditional TV to streaming services, offering a variety of content at the convenience of the viewer​.

2. Increased Adoption of Connected TV

As of 2023, 87% of U.S. households have one or more connected TV (CTV) devices, including stand-alone streaming devices like Roku or Amazon Fire Stick, and video game consoles.

This widespread adoption of CTV devices indicates a significant shift in how consumers access and enjoy television, allowing for enhanced connectivity across multiple devices simultaneously​.

3. A Surge in Streaming Sports Content

Sports streaming on CTV platforms is becoming increasingly popular, with projections indicating that by 2025, approximately 118 million U.S. viewers will be streaming their favorite sports events.

This trend highlights a significant shift in sports consumption, moving away from traditional TV broadcasting to more accessible and convenient digital formats. The ease of access and the ability to watch from multiple devices are key factors driving this surge in sports streaming.

4. The Ongoing Trend of Cutting Cable

The trend of cord-cutting, where consumers cancel cable subscriptions in favor of streaming services, continues to rise sharply. By 2026, it is estimated that over 80 million U.S. households will have made the switch to streaming exclusively.

This shift is reshaping the broadcast landscape, favoring streaming platforms and providing them with a growing audience base for digital content​.

5. A Downward Trend in Linear TV Viewership

Linear TV’s popularity is declining, with a significant shift towards streaming services. A Nielsen report from July 2023 highlighted that streaming accounted for 38.7% of total TV usage, overtaking linear TV, which continues to see a decrease in viewership.

This trend reflects changing consumer preferences for on-demand content over scheduled broadcasts​.

6. Enhanced Ad Viewing on Connected TV Platforms

CTV platforms are seeing high ad completion rates, with viewers finishing 96-98% of the content they start, including ads. This high engagement level indicates that most viewers watch the streaming ads fully, depending on their subscription plan.

This trend demonstrates the effectiveness of advertising on CTV, as it ensures that ads reach their audience almost completely.

7. Persistence of Targeted Advertising Techniques

In 2022, connected TV advertising in the U.S. surpassed the $20 billion mark, underscoring the strong continuation of targeted advertising practices on digital platforms.

This growth is driven by the capability of CTV to blend the broad reach of traditional TV advertising with the precision of digital marketing, allowing for enhanced audience targeting and detailed insights, which make it an invaluable medium for advertisers aiming to maximize their impact​.

8. Audience Preference for Diverse Narrative Styles

About 67% of consumers express a preference for a variety of storytelling approaches in advertising on connected TV.

This diverse narrative style helps maintain viewer engagement and attention, suggesting that advertisers should innovate and vary their content to reduce ad fatigue and enhance viewer interaction​.

9. Acceptance of Advertisements Among Viewers

It’s a misconception that viewers switch to connected TV merely to avoid commercial interruptions. Various motivations, including financial savings and the convenience of accessing shows on-demand, often contribute to the trend of abandoning traditional cable.

Interestingly, 69% of viewers admit they won’t skip commercials that showcase products or services they’re interested in. Effectively targeted, engaging, and amusing OTT and CTV ads are not just watched but also remembered by the audience.

10. Widespread Exposure to Programmatic Advertising

Programmatic advertising on CTV now reaches an extensive audience, with 98% of internet-connected U.S. households accessible via this method.

This wide coverage offers advertisers unparalleled access to viewers across the nation, making CTV a significant medium for targeted advertising campaigns​.

TV Viewership Statistics & Trends: Final Thoughts

As we step into 2024, the TV viewership landscape is notably shifting towards digital, with streaming platforms and connected TV taking center stage. This evolution is driven by a variety of TV viewership trends including the rise of streaming subscriptions, increased adoption of CTV devices, and the growing acceptance of ads among viewers who value targeted, engaging content.

For marketers, these TV watching statistics highlight the necessity to adapt and leverage programmatic advertising to effectively reach an increasingly connected and diverse audience. Embracing these trends will be crucial for capturing attention in a fragmented media environment.