Television viewership is experiencing a significant transformation, particularly as streaming surpasses cable and broadcast in 2024, making up over 40% of total viewing time. This shift is particularly evident among younger audiences, with 95% of 18- to 24-year-olds stream content weekly. Despite the increased variety in available shows, advertising revenue is being impacted as audiences bypass commercials. Consequently, businesses are exploring social media influencers to compensate for the declining effectiveness of traditional advertising. WPP Media forecasts a slowdown in ad revenue growth, emphasizing the challenges ahead for the ad industry.
According to Nielsen, streaming surpassed cable and broadcast viewing time for the first time in 2024, with over 40% of all TV viewing time spent on streaming.
The shift is most prominent among young people. About 95% of 18- to 24-year-olds report watching streaming content weekly, primarily using platforms like Hulu, Roku, and YouTube TV.
Ad agencies expected to curb spending this year, while also turning to social media influencers to make up the difference as fewer commercials are being watched on traditional television.
WPP Media is downgrading its projected ad revenue growth to 6% this year, reflecting the ongoing challenges within the advertising landscape driven by changing viewing habits.
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