2023
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US Streaming Video Market Report 2023
2023-12-01T10:04:21+00:00
REP0BB7B5DB_CC91_42E7_BA62_51496AC9F8EA
3695
168702
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Report
en_GB
Streaming services rethink business models to generate more revenue. Consumers remain overwhelmed by choice, instead opting for old favorites or social video. A Mintel Analyst, Global Analyst…

US Streaming Video Market Report 2023

£ 3,695 (Excl.Tax)

Description

Covering the US video streaming market, this report provides the foundations for a robust insight strategy. Utilise this data-backed review and get a headstart in your industry research. Below, we’ve summarised the key topics covered and offer select findings from the report.

Key Topics Covered

  • An overview of the video streaming market and growth trajectory.
  • Key players across various streaming video on-demand categories.
  • Use of streaming services by type (eg SVOD/FAST).
  • Content perceptions by subscription video on-demand (SVOD) service.
  • Attitudes and behaviours toward streaming video, including the use of a second screen.

US Video Streaming Market Size 2023-2028

US consumers are expected to spend $139.4 billion on video entertainment in 2023, a slowdown from the pandemic years. However, Mintel’s forecast shows that spending on streaming video services is set to grow notably from 2023 to 2028. This increase is due to the emergence of more services and subscription tiers, among other factors.

Video Streaming Consumer Statistics

  • Confounded by choice: Over half of US consumers use multiple sources for video entertainment, making content selection as important as actually watching a program.
  • Social video is easier for many: 41% of consumers think it’s easier to watch social video than to find something to watch on a streaming service.
  • Use outweighs perceptions: Americans generally have a low perception of content on SVOD services, but time on these platforms is still only outspent by music streaming services.

Video Streaming Market Opportunity

Given the current challenge for consumers in content selection, there is room for services to make the process easier. Reduce choice fatigue and lost viewership by leveraging Generative AI. Services can aim to allow for more user input here, such as through a chatbot, which is a few steps ahead of the current voice-activated functionality.

Buy the full report to gain access to in-depth expertise and bolster your business strategy today. You may also be interested to browse our broader category of leisure time market research.

Brands Discussed

This report analyzes the competitive landscape among key players such as Netflix, Amazon, Disney, WBD, and Alphabet.

Additional Features Included in Your Report

  • Different Digital Formats: PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentations.
  • Custom PowerPoints: Incorporate our consumer research data into your own work so you can win over your clients and stakeholders. Select insights from your report to create a custom presentation that is ready to download in minutes
  • Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
  • Mintel’s Clients Portal: Our portal provides instant access to actionable analysis, podcasts, and trend pieces relevant to your industry that are published almost daily, as well as our annual Global Consumer Trends. You can also browse our extensive library of market research reports.

Expert Analysis

Leading media and entertainment analyst Jenni Nelson delivers expert insights with this report.

Streaming services rethink business models to generate more revenue. Consumers remain overwhelmed by choice, instead opting for old favorites or social video.

Jenni Nelson - Media and Technology Analyst

 

Jenni Nelson
Consumer Insights Analyst, Tech, Media & Entertainment

Table of Contents

    • Key issues covered in this report
  1. Executive Summary

  2. Consumer Insights

    • Consumer fast facts
    • Video entertainment sources
    • Graph 1: video entertainment sources used, 2021-23
    • Graph 2: video entertainment sources used, by age, 2023
    • Graph 3: repertoire of video entertainment sources used, 2023
    • On-demand streaming video services
    • Graph 4: use of on-demand streaming services, by financial situation*, 2023
    • SVODs
    • Graph 5: SVOD services used, 2021-23
    • Graph 6: use of Netflix and Amazon Prime Video, by age, 2023
    • Graph 7: first choice among SVOD services, by age, 2023
    • Graph 8: use of SVOD services, by age, 2023
    • Consumer perceptions on content
    • Graph 9: content perceptions by SVOD service, 2023
    • FASTs
    • Graph 10: use of free ad-supported streaming services, 2023
    • Graph 11: use of Pluto TV, by age and gender, 2023
    • Graph 12: use of select free ad-supported services, by parental status, 2023
    • Live digital TV
    • Graph 13: live digital TV streaming services, 2022-23
    • Graph 14: repertoire of live digital TV services used, 2023
    • Graph 15: use of live digital TV, by age, 2023
    • Second screening
    • Graph 16: second screening attitudes, 2023
    • Graph 17: “I don’t ever use a second screen while watching video content”, by age and gender, 2023
    • Graph 18: attitudes towards simultaneously using multiple display devices, men vs women, 2023
    • Graph 19: “my second screen content is usually unrelated to my primary screen content”, men vs women, 2023
    • Attitudes concerning value
    • Graph 20: value-related attitudes toward streaming video (NET any agree), 2023
    • Attitudes concerning content
    • Graph 21: content-related attitudes toward streaming video (NET any agree), 2023
    • Graph 22: content-related attitudes toward streaming video (NET any agree), by race and Hispanic origin, 2023
    • Attitudes concerning viewing habits
    • Graph 23: attitudes toward video streaming and viewing habits (NET any agree), 2023
    • Graph 24: “it’s easier to just watch videos on social media than to find something to watch on streaming services (NET any agree), by age, 2023
  3. Competitive Strategies

    • Marketing and advertising
    • Graph 25: paid media mix share among top five streamers, 2023
    • Graph 26: paid media spend among top five video streamers, 2023
  4. The Market

    • Market context
    • Market drivers
    • Graph 27: consumer price index (inflation) changes from previous period, 2022-23
    • Graph 28: real GDP percentage change based on chained 2012 dollars, 2022-23
    • Market size and forecast
    • Market segmentation
  5. Appendix

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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2024 Sample Consumer Cover

Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

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