Consumers’ appetite for streaming video seems to be growing at an exponential rate, according to Conviva’s latest State of Streaming report for the third quarter.
The company said time spent streaming was up 53% year over year, and that 63% of all streaming viewing is on demand.
"Streaming is quickly becoming the new normal. As a result, we will continue to see new upstarts in the category accompanied by traditional media companies and big brand advertisers embracing the potential of the market," said Conviva CEO Bill Demas in a statement. "This is an industry undergoing massive growth, and what happens in the next 18 months will shape what, how and when we watch content in the future."
Major streaming service launches will dot the calendar over the next few months. Apple TV+ debuted last Friday and Disney+ will launch next week on Nov. 12. WarnerMedia’s HBO Max, NBCUniversal’s Peacock and Quibi will all launch during the first half of 2020.
One of traditional TV’s biggest ratings draws, the NFL, has also seen major spikes in streaming viewership since last year. Conviva reported a 77% increase in streaming plays and a 50% increase in time spent streaming compared to the year-ago quarter. The company also said that much of the NFL's streaming growth occurred on mobile devices, which grew 109% in plays year over year, while streaming plays on PCs went down 11%.
Conviva’s research also showed that streaming video quality is improving. The study said video start failures are down 10%, video start times are 6% faster, there is 33% less buffering and the picture quality (bit rate) is 3% better. The company said mobile made improvements in reducing buffering – down 34% year over year – but video start times were only down 4% and video start failures were down only 2%.