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63% would cord-cut if TV needs met by online provider

Adroit Digital has announced the results of a study on consumers’ evolving preferences for online video and advertising content. The “Online Video — Look Who’s Watching Now” report illustrates a significant appetite for and reliance on online and streamed video content.

According to the report, 28 percent of respondents are consuming more than 15 hours of streaming video content a week through gaming consoles or web TV devices. People ages 35 to 44 are viewing the most online or streamed content (33 percent watch 15 hours or more per week)

The report also shed some interesting light on cord-cutting, with 63 percent of the respondents said they would cancel their cable subscription if all their broadcast TV needs could be met by an online provider. Men are more willing to cut the cord (67 percent) than women (57 percent), which arguably corresponds with the fact that 69 percent of men believe their TVs are essentially transforming into a large viewing monitor for self-selected content – something only 51 percent of women believe to be true

68 percent of those surveyed watch video content via YouTube, 51 percent consume live television broadcasts and 49 percent view content through Netflix. Women watch content on Netflix more often than men (56 percent vs. 43 percent) and DVRs more often than men (32 percent vs. 28 percent)

70 percent of respondents said they typically watch video content alone. Seventy-five percent said someone else is often or sometimes somewhere else in their home accessing video at the same time

“Just a few years ago, content was relegated to specific devices within your home. Now, those lines have completely blurred and consumers can watch what they want, where they want, and when they want it,” says Glenn Humble, Adroit’s Digital’s director of marketing and communications and the author of the report. “This research shows that 75 percent of households frequently have at least two viewers watching different content on different devices simultaneously. This multi-screen world will continue to be a challenge for advertisers as they break new ground and test novel technologies and measurement practices, but it’s the future. Consumers are hungry for online video content and, much like ‘regular’ TV content, they’re growing accustomed to seeing advertisements on all of their screens.”

The research was fielded in April 2014 and represents the responses of 2,000 consumers over the age of 18. Respondents own a television, smartphone and personal computer or laptop.

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