Seventy percent of American broadband users are watching professionally produced Internet video every week, averaging more than 100 minutes per week, and consumers spend nearly four times more time streaming content than downloading, according to a new survey.
The research from Cisco’s Internet Business Solutions Group (IBSG) found that while free- and ad-supported sites pull in more than 40% of viewers, 27% of online viewers said they would buy more video if it came with a reliable cloud service, such as UltraViolet.
Chris Osika, IBSG senior director and global lead, noted that among 18- to 24-year-olds, streaming video viewership rises to 94%, and overall, streaming video usage is about even with DVDs and Blu-ray Discs.
“While broadcast television still rules, 48% of consumers have increased their streaming of professionally produced video content in the past two years, making it the fastest-growing category of video use,” Osika said. “Internet video streaming will continue to grow in the future; in our study, this is where the greatest number of consumers expect to increase their use.”
As for cloud-based services such as UltraViolet, consumers will pay for content to own it if it’s convenient, of high quality, works across devices and offers a broad selection.
“Seventy-four percent of Internet video viewers watch their favorite TV shows online at least weekly, and 42% watch every day,” Osika said. “That exceeds movies (52% weekly and 12% daily) and is far ahead of music videos, sports and other events. Whatever the preference, a broad content library is a key incentive for consumers.”