LG Ad Solutions has expanded its presence into the Canadian market with the appointment of Jason Randall as the country manager and vice president of sales, Canada. As part of this expansion, LG Ad Solutions conducted a comprehensive study titled “The Big Shift: Canada Wave II,” which reveals the changing preferences and behaviors of Canadian consumers in relation to connected TV.
The study, conducted in June 2023 and based on responses from over 750 Canadian consumers, highlights a significant shift away from linear television. Approximately 26% of the respondents reported watching less linear TV compared to a year ago. Instead, there is a growing preference for Free Ad-Supported TV (FAST) services, with 61% of consumers favoring streaming free, ad-supported content rather than paying for a subscription.
One interesting finding from the study is that 24% of respondents dedicate 2-5 hours per week to watching free, ad-supported TV apps. This indicates a substantial level of engagement with the advertising content presented on these platforms.
The economic impact on consumer subscriptions is also evident, as more than one in three viewers have canceled a streaming service to save money. This suggests that cost considerations play a significant role in the decision-making process for Canadian consumers.
The study further reveals that 87% of Canadian connected TV users currently pay for one or more streaming apps. However, 55% of these users are willing to cancel their subscription after watching the content they desire, reflecting a preference for flexibility and the ability to tailor their streaming choices.
In terms of content discovery, recommendations from family and friends remain the top source for new content, with 52% of respondents relying on them. Interestingly, 45% of Canadian consumers use the homepage of their TV screen as a source for new content, which is 16% higher compared to their counterparts in the United States.
