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Demand high for video on demand. Annual revenues of U.S. subscription video on demand (SVoD) services will catch up with traditional pay TV in 2027 according to projections from GlobalData. Revenues from the likes of Netflix, Amazon Prime, and Hulu are forecast to increase from nearly $47.6 billion in 2022 to $64.6 billion in 2027.
Your driver will arrive after these messages. Uber is introducing full-length video ads on its ride-hailing app, Uber Eats, and Drizly. The ads will be shown to users while they wait for their drivers or during their trips on the primary Uber app. In the Uber Eats app, video ads will play after customers place orders until their deliveries arrive. Drizly will feature ads in search results, the app, website, and other areas of the site.
More from less. Despite increasing time spent streaming, consumers are “stacking” fewer SVOD services. Data from Hub Entertainment Research shows a first-time, and relatively striking, decline in the average number of TV sources used by each viewer.
Linear and CTV two peas in pod. US adults still spend several hours per day on both linear and CTV platforms—2 hours, 55 minutes for linear TV and 1 hour, 55 minutes for CTV according to eMarketer. While linear ad spend is declining slowly, CTV is increasing at about 21% YOY.
Sincerest form of flattery. Apparently, cable giant Comcast wouldn’t mind being Roku. The company is partnering with Spectrum to create a new 4k streaming device they’re calling “Xumo Box.” The plug-in device will be the backbone of the companies’ foray into free ad-supported streaming TV (FAST).
Stormy Seas?
Avast ye password scalliwags! It may not be piracy in the strictest terms, but password sharing is an affliction across the streaming ecosystem. As Netflix continues its crackdown on the practice, it’s interesting to note that Hulu and Disney+ actually show higher levels of the practice and, all told, more than a quarter of subscribers share passwords.
Retailers bracing. The majority of retail supply-chain respondents to a recent survey are worried that consumers will reduce spending for the upcoming holiday season. Data shows retailers ordering less and expecting consumers to be expecting discounts and freebies with purchases.
Ahead to the Past
Going wild. NBC announced that a new iteration of Mutual of Omaha’s Wild Kingdom will air on the network this fall. The original series premiered in 1963 and was hosted by Marlin Perkins. In its heyday it averaged 34 million viewers, racked up five Emmy Award nominations, and won twice.
Video flashback. Petco and Snoop Dogg are teaming up for a new TV commercial. In the new spot, the hip-hop artist contemplates the life of a very lucky dog. He then morphs into a Doberman Pinscher that fans might recognize from the musician’s very first video, 1993’s “Who Am I? (What’s My Name)?”
Nuggets are timeless. A full 23 years after cult classic animated feature Chicken Run debuted, Netflix will bring back the Aardman Animation team to release Chicken Run: Dawn of the Nugget. Billed as “a Bond movie, but with chickens,” the film will reunite many of the characters from the cult classic original.
Throwin’ Money Around
Switched for Kick. Félix Lengyel, a Canadian streamer, signed a massive deal with Kick, Twitch’s rival platform. The two-year commitment amounts to $70 million with incentives that could total to $100 million – about the same as LeBron James’ two-year extension with the LA Lakers. Leaving for a smaller platform, the live-streamer commented “Kick is allowing me to try and do things I haven’t been able to before.”
TikTok coins. One-time in-app purchases drove TikTok to be the first mobile app ever to surpass $1 billion in Q1 2023. TikTok was followed by the “Honor of Kings” game at $570 million and YouTube with $530 million. As the only non-gaming platform in the top ten apps, it earned more sales than Candy Crush Saga, Roblox, and Pokemon Go.
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