TiVo Launches First UK Video Trends Report, Finds Spending on Video Content Services Resilient Despite Cost of Living
September 14 2023 - 4:00AM
Business Wire
- UK consumers purchase an average of six video content
sources
- Content discovery experiences are poor with only 11% strongly
liking the recommendations they receive from any source
Research released today from TiVo Platform Technologies LLC
(TiVo), a wholly owned subsidiary of entertainment technology
company Xperi Inc. (NYSE: XPER), for IBC 2023, reveals that almost
half of all UK consumers have not reduced their video spending as a
result of increases in the cost of living. On average, UK consumers
subscribe to six paid video content sources, with an average
monthly bill of £78.06.
However, while having access to multiple content sources, the
inaugural TiVo Video Trends Report: UK found UK consumers
report considerable frustration with discovering new and
interesting video content, with only one in 10 (11%) strongly
liking recommendations they receive from any source.
Of the respondents who pay for video content, 81% have a
subscription to video on demand (SVOD) services such as Netflix and
57% subscribe to pay TV services (e.g., Sky, Virgin Media), but
there is a considerable churn risk for both. Two in five (21%)
respondents said they stopped their SVOD subscription within the
last six months.
The report also reveals the world of Advertising-Based Video on
Demand (AVOD)/Free Ad-Supported Streaming TV (FAST), such as Pluto
TV and Freevee, is still in early stages of its path forward, with
only 42% of UK consumers watching AVOD or FAST channels. Further
uptake looks promising, however, as 76% of UK consumers say they
are ad-tolerant if it means not paying for content.
“It’s clear that UK consumers are willing to both pay for
content and watch ads to access the entertainment they want, but
they have considerable frustration with discovering new and
interesting video content in this ever-saturated market,” said
Gabriel Cosgrave, general manager of EMEA at Xperi. “It’s time for
TV manufacturers to invest in creating personalised content
experiences across devices that provide dynamic, highly relevant
recommendations based on preferences and behaviours to give
stand-out experiences and minimise churn.”
Additional TiVo Video Trend Report: UK Highlights on Consumer
Habits
- UK consumers prefer to binge: more than half (52%)
prefer a whole season of a TV show to be available at once so they
can binge it, compared to 21% who prefer episodes to be released
one per week
- Social content reigns: the majority (81%) watches social
video (e.g., YouTube, TikTok), with 26% watching it on a TV several
times a week
- Smart TV ownership is very encouraging: nearly
three-quarters (74%) own a smart TV and 15% plan to make a purchase
in the next six months (58% replacing a TV and 42% to add to
another room or location)
- Trust in voice control needs to improve: top reasons for
not using voice control are: not being comfortable talking into a
device (32%); not recognising what they said (28%); and it’s faster
to browse the menus (23%).
Find more information from the first Video Trends Report: UK
here.
To learn more, TiVo will be showcasing its video streaming
services for smart TVs and the car at IBC 2023 in Amsterdam, Stand
5.F36. And for more information on TiVo’s discovery solutions,
visit https://tivo.xperisolutions.com/discovery/.
Methodology
The TiVo Video Trends Report: UK surveyed 1,004 adults 18 and
older living in the UK during the second quarter of 2023. In
addition to identifying and analyzing key trends in viewing habits,
the TiVo Video Trends Report: UK provides insight into consumer
opinions regarding Subscription Video on Demand (SVOD),
Transactional Video on Demand (TVOD) and Advertising-Based Video on
Demand (AVOD) providers, emerging technologies, connected devices,
over-the-top (OTT) apps and content discovery features, including
personalized recommendations and search.
About TiVo
TiVo brings entertainment together, making it easy to find,
watch and enjoy. We serve up the best movies, shows and videos from
across live TV, on-demand, streaming services and countless apps,
helping people to watch on their terms. For studios, networks and
advertisers, TiVo targets a passionate group of watchers to
increase viewership and engagement across all screens. TiVo is a
wholly-owned subsidiary of Xperi Inc. Go to tivo.com and enjoy
watching.
About Xperi Inc.
Xperi invents, develops, and delivers technologies that enable
extraordinary experiences. Xperi technologies, delivered via its
brands (DTS®, HD Radio™, TiVo®), and by its startup, Perceive, and
IMAX Enhanced, an IMAX and DTS partnership, have been integrated
into billions of consumer devices and media platforms worldwide,
powering smart devices, connected cars and entertainment
experiences. Xperi has created a unified ecosystem that reaches
highly engaged consumers driving increased value for partners,
customers and consumers.
©2023 Xperi Inc. All Rights Reserved. Xperi®, TiVo®, DTS®, HD
Radio™, Perceive® and their respective logos are trademark(s) or
registered trademark(s) of Xperi Inc. or its subsidiaries in the
United States and other countries. All other trademarks and content
are the property of their respective owners.
SOURCE: Xperi Inc. XPER- P
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version on businesswire.com: https://www.businesswire.com/news/home/20230914241533/en/
Xperi Media: Allyse Sanchez, Xperi
Allyse.sanchez@xperi.com
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