Our sibling agency Magna Global released their latest Media Economy Report. Titled “The New Face of TV,” the report focuses on the rapid ascension of OTT and explores how this trend will make audiences redefine the definition of traditional TV. Here are the top five statistical highlights:
- “Cord-cutting” became a reality in 2015, and Magna expects nearly seven million more homes will cut the cord by 2020.
- The number of “cord-never” households — whether they are broadband-only, broadcast-only, or non-TV homes — will reach 30 million over the next few years.
- Time spent with OTT devices has more than doubled year-over-year, and overall time with digital video, regardless of device, has increased by 25%.
- OTT devices are capturing an increasing share of digital video ad views and growing faster than any other device with a 157% year-over-year growth rate.
- Digital media revenues will reach 37.3% market share by the end of 2017 globally, surpassing TV, to become the number one media category.
Read original report on: magnaglobal.com