LG Ad Solutions study highlights an opportunity for brands to reach sports viewers via streaming platforms
LG Ad Solutions, a global leader in connected TV and cross-screen advertising, has released the findings of a new sports study that found that 74% of consumers plan to watch the March Madness tournament this year, up 9% from those who watched in 2022 (65%). Of those who plan to watch March Madness, 54% plan to watch at least one game via a streaming TV app.
The study surveyed more than 1,000 consumers in February 2023 to explore audience preferences and perceptions around televised sports content, commitment to content viewership, and the influence of alternative devices. Titled “Game Day and Beyond: The Sports Viewership Study,” the study also found:
● 81% of viewers say they are likely to pay attention to TV ads while watching March Madness. And 52% of consumers actually feel more favorable towards brands that advertise during the tournament.
● 37% of viewers watch live sports mostly or only via TV streaming apps, with Amazon Prime and YouTube TV being the top apps used to stream live sports.
● 41% of viewers will spend more time watching live sports in 2023 compared to 2022. Currently, 80% of viewers watch sports at least once a week.
● 81% of viewers are likely to watch sports content on a free, ad-supported streaming TV app.
● 71% of consumers are likely to sign up for a streaming subscription service to watch sports and either cancel or pause their subscription once the season is over.
● 80% are likely to multitask on their devices while watching live sports or other sports content.
“Our research reveals the majority of live sports viewers are watching on ad-supported streaming channels – and this will only continue as more streamers buy the rights to live sports content and legacy sports publishers launch streaming apps,” said Tony Marlow, CMO of LG Ad Solutions. “With March Madness and other marquee sporting events like the start of the MLB season and the NBA playoffs quickly approaching, brands can now confidently go beyond linear and reach a large audience of sports fans who feel favorable towards advertisers on streaming platforms.”
For more information on LG Ad Solutions and to download the full study, visit: https://lgads.tv/resource/the-sports-viewership-study