The global video streaming market is expected to grow from $138 billion in 2018 to $591 billion by 2028. The growth in adoption of these online video services is clearly reflected in the expansion of new market offerings and the 2019 Ipsos Affluent Survey USA Spring results reveal the ways Affluents have embraced this technology.
Source: 2019 Ipsos Affluent Survey USA Spring Release. Based on individuals with HH Income $125K+.
While online video service consumption has remained steady for Affluents aged 18-34 over the past three years, consumption by those aged 55 or older continues to increase – up to 64% in 2019 compared to 56% in 2017.
Smart television ownership amongst Affluents has increased almost ten percentage points overall in the past three years. While rates have risen across all demographics, the most surprising growth again comes from those aged 55 or older.
The growth in ownership is reflected in their preferred streaming channel of choice. Those watching via mobile device remains fairly consistent while the number of Affluents watching via TV increased from 49% in 2017 to 59% in 2019.
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For more insights like this, check out last month’s edition – Ipsos Affluent Intelligencer: How Prepared Do Affluents Feel for Retirement?