Behind The Numbers: VOD Can Cure FOMO
Despite a few cable networks shaking up the traditional TV schedule by airing a new series, it’s fair to say that the TV business typically slows during the summer. Hit shows take a break in preparation for the fall season while some networks experiment with new programming ideas. In a way, this is perfect because with so much content, it’s nearly impossible to catch everything on its first run.
For those who suffer from FOMO (Fear of Missing Out), summer evenings or lazy days at the beach provide the ideal chance to catch up on some of those missed shows before the next season starts. And, according to Nielsen’s most recently released Cross Platform Report, we’re increasingly doing our catching up through Video on Demand (VOD).
VOD is currently available to 60 percent of US TV households. Growth in the service can be attributed to ease of use, popularity of TV Everywhere services, and a growing VOD library of titles that has quadrupled in 5 years. On average, VOD contributes 4-5 percent of viewership in the 18-49 demo, while slightly more popular at 7 percent for teenagers 12-17.
Nielsen’s report also reveals that VOD users actually watch more television, live or otherwise. During primetime hours, VOD users watch on average an hour and five minutes of live TV, while non-users watch 54 minutes – a difference of 20 percent.
Consumers are faced with more choices then ever with all the new ways to watch television and consume media. And for a growing majority of Americans, they are choosing the VOD platform. Now all that’s left is the toughest decision of all: which shows of the thousands out there to tune into!
Let us know in the comments section what shows you are looking forward to catching up on this August.