Rising costs and economic uncertainty are contributing to a reconsideration of streaming’s future. Streaming services are under pressure to attract consumers and retain them, all while inching toward profitability.

How should businesses view these global trends and events? How are behaviors and spending changing? In this report, Insider Intelligence analysts weigh in on the questions they’re being asked by both clients and the media about the shifting landscape in key areas like digital advertising, retail and ecommerce, and financial services.

Upfront spending is flowing toward streaming services. Upfront CTV ad spending will grow by 34.6% to $6.41 billion this year. For context, that’s about how much we had predicted in our inaugural forecast would be spent on total CTV advertising in 2019.

While traditional TV ad spending will struggle for growth in the coming years, digital video will not. A portion of digital video spend will go to the nascent CTV space, but traditional broadcasters are also developing their own streaming services (with BVOD ad spend rising at a far faster rate than traditional TV spend). Overall, the advertising opportunity for CTV remains small.

The recent influx of premium streaming services is changing the way people access movies and TV shows. In the US, 18% of US paid video subscribers purchase just one streaming service, down 17 percentage points from 2019. By contrast, 35% currently pay for four or more services, up 24 percentage points from three years ago.

Total time spent with media per day in the US will decline slightly in 2022, but most pandemic-era gains will be retained. Digital video, subscription OTT services, and smartphones will be among the bigger winners this year.

That was a total of 9.7 billion hours spent streaming OTT videos in 2021, up from 2020’s 8 billion, per the Trade Desk. YouTube dominated mobile video time spent in Indonesia, Malaysia, the Philippines, Singapore, and Thailand with a 63% share in Q3 2021, followed by TikTok’s 26%, according to Media Partners Asia.

Come 2024, the number of cord-cutters and cord-nevers, at 138.1 million, will surpass the pay TV viewership, at 129.3 million, in the US. The gap will continue to widen as more people say goodbye to traditional cable, satellite, or telecom live TV services.

Spotify is the No. 1 digital audio service among US teens and adults, with 35% digital audio listeners ages 12 and older using that platform the most. YouTube Music comes in at No. 2, with 18%, while Pandora rounds out the top three at 15%.

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