4 for '24: Four Streaming Trends to Watch for this Year
4 for '24: Four Streaming Trends to Watch for this Year
The streaming landscape is constantly evolving, and 2024 promises some exciting new trends to watch for. Cord cutting continues to be an increasing trend, and it's expected that more than 80 million homes will cut cable for good by 2026. With streaming content poised to ride another wave of increased viewership in 2024, here are some key developments to watch for:
Continued Rise of Ad-Supported Free Streaming: Free, ad-supported streaming models are gaining popularity, offering an alternative to subscription fatigue. Viewership for these types of platforms increased 21% and is expected to continue to rise in 2024. The demographic skews slightly younger with over 50% of users being under the age of 35, but as the popularity rises and more ad revenue is collected, you can expect these platforms to become more aggressive in the types of content they offer and what demos they target. Tubi, PlutoTV, FreeVee
AI-Selected and Generated Content: Expect more AI-powered content creation tools and personalized recommendations in 2024, tailoring experiences to individual viewers. The rise of AI has been on everyone's radar, and this year will show more impact as streaming platforms find more ways to incorporate new technologies. AI could help personalize and recommend content more efficiently, tailoring suggestions based on viewing habits. It's also expected AI will create or assist in creating more content as well, especially shorter form content. Streaming companies are already using AI to assist in script-writing and storyboarding, and that presence will only grow as the technology improves and algorithms find things that work.
Box Office Hits Will Continue to Impact Streaming: While it's up for debate what the future of movie theaters may be with overall attendance still in flux and showing signs of decline, what is obvious is the movies that do still manage to find success at the box office will ride it into streaming. Streaming platforms like Netflix, Prime Video, and Disney+ are continuing to bet on original exclusive content including feature-length films, but the top 10 most-streamed movies in 2023 were all box office hits first. The Super Mario Brothers Movie, Spider-Man: Across the Spiderverse, John Wick: Chapter 4 and more all followed big splashes at the box office by being the top-streamed film on their respective platforms for several weeks. With several highly anticipated films on the schedule for 2024, where they land for streaming will be something to watch.
Live Sports Streaming and Consolidation: With so much other live programming seeing drop-offs in viewership in the past years, live sports has only increased and demand has continued to grow. ESPN, Peacock, Hulu, Amazon Prime, and more all have their hands in broadcasting live sports and will continue to push for more in 2024. Already this year, news that ESPN, Fox, and Turner Sports were working towards building their own app has leaked, and Fubo recently filed suit against the companies in an attempt to block the effort. If we do see consolidation between companies to bring more high-demand sports to streaming, it will significantly shift the landscape and possibly hasten cord cutting even further, as live sports are still a big draw for cable customers.
Keep an eye on these trends in 2024, and talk to your streaming content experts at SilverBack Advertising to learn more about bringing your brand to the right viewers!