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LG Ad Solutions Study Finds U.S. Consumers Turning to Streaming Amid Economic Uncertainty

via Business Wire
  • 59% of Americans plan to stream more at home and cut back on out-of-home entertainment.
  • Nearly 70% expect to stream more live events instead of attending in person.
  • Over 65% plan to use more free, ad-supported streaming (FAST) platforms.

LG Ad Solutions, the global leader in advanced advertising for Connected TV and cross-screen devices, conducted a survey involving U.S. consumers to understand how current economic conditions are impacting video streaming behavior.

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The company found that 59% of consumers are likely to stay at home more and increase their usage of video streaming services if the costs of out-of-home entertainment (traveling, dining out, etc.) become more expensive. Additionally, 66% of consumers are planning to stream more live events at home instead of buying tickets to attend, in order to reduce costs.

“As consumers brace for potential economic headwinds, many are already staying in and streaming more,” said Tony Marlow, Chief Marketing Officer at LG Ad Solutions. “CTV viewership continues to accelerate, creating a prime opportunity for brands to invest in advertising that connects with highly engaged audiences on the biggest screen in the home.”

LG Ad Solutions’ survey also found the rapid expansion of FAST platforms and channels will likely continue this year. While over 58% of consumers said they would be cutting back on the number of paid video streaming subscriptions (SVOD), over two-thirds of respondents (68%) said they plan to increase or have already increased their use of FAST platforms.

Nearly 70% of respondents said “price” was the number one consideration on whether they keep or cancel a streaming service, followed by the quality of the platform’s content library (38%) and the fact that they already have too many subscriptions (30%).

With shopping for everyday items set to become more expensive, consumers also said they are more open to receiving ads via streaming platforms with special product offers or vouchers. Over 70% of respondents said they found these discount-related CTV ad features helpful.

“We’re already seeing a shift where live events—from sports to concerts—are increasingly streamed directly to viewers, and even top artists are recognizing the power of bringing the show to the screen. As audiences choose to stay in, streaming offers a front row seat to culture, giving brands more opportunities to engage in real time with fans where they’re most immersed,” Tony Marlow said.

For more information on LG Ad Solutions, visit https://lgads.tv/

About LG Ad Solutions

LG Ad Solutions is a global leader in connected TV and cross-screen advertising, helping brands find hard-to-get unduplicated reach at optimal frequency across the fragmented streaming TV landscape. We bring together LG’s years of experience in delivering world-class smart TVs to consumers worldwide with big TV audience data and Video AI designed to connect brands with audiences across all screens.

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