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Digital audio will have 197.5 million adult listeners in the US this year, but each listener will generate only $36.05 in ad revenues. Radio fares slightly better at $49.10, but both pale next to most other major video platforms.

Social users in the US will spend more than half their daily social time watching videos in 2023鈥攗p from one-third pre-pandemic. But social video鈥檚 growth is slowing, suggesting there鈥檚 a limit to the amount people want to consume daily.

Instacart expands offsite retail media capabilities with YouTube partnership: The retailer鈥檚 first-party data will power shoppable ads for CPG brands

It鈥檚 no surprise that 18- to 24-year-old TikTok users spend a lot of time on the app鈥�79 minutes per day, according to our latest forecast. But what鈥檚 not so obvious is that Millennials and Gen X users are gobbling up tons of TikTok videos, too.

But more than any other medium, social is the starting point for journeys in video, online news, and entertainment. It鈥檚 also very conducive to multitasking鈥攕crolling feeds while watching TV, especially. The high level of engagement on TikTok is pushing social time spent upward.

Time spent watching YouTube on TVs now exceeds any other individual network or streaming service, according to Nielsen data cited by The Information. A TV powerhouse: YouTube鈥檚 viewership on TV screens likely increased as a result of pandemic lockdowns, but it鈥檚 far from a fad.

TikTok has broken social media with its addictive short-form videos, according to The Economist. While 鈥渂roken鈥� may be a bit strong, our analyst Debra Aho Williamson agrees that TikTok has irrevocably changed the way we engage with social media, including how much time we spend on the platform.

Time spent with connected TV (CTV) by US adults will be within 1 hour of linear next year, at 2 hours and 3 minutes (2:03) and 2:48 per day, respectively, according to our June forecast. CTV usage is outpacing ad spend on most platforms, but spend is growing rapidly as Netflix, Disney+, Max, and Amazon Prime Video push more viewers toward ad-supported tiers. As the CTV ad floodgates open, advertisers need to make sure they鈥檙e maximizing ad value by thinking of CTV differently, experts suggested at last week鈥檚 Advertising Week New York.

Netflix will remain on top despite a shaky 2023. Estimates for Hulu and the other sub OTT services were not affected by the writers strike.TikTok and YouTube are in a close fight for short- and medium-length video viewing time.

Meanwhile, the group鈥檚 time spent on streaming grew by 20 minutes to 1 hour, 42 minutes鈥攏ow matching their time spent on live TV. Free ad-supported streaming TV (FAST) services are gaining ground. While Netflix and YouTube are popular video platforms, FAST services are well positioned as household budgets get tighter with the rise of inflation and economic uncertainty.

Time spent by US TV viewers with free ad-supported TV (FAST) platforms now rivals that of some major subscription video on demand players, according to June data from Nielsen. For example, Tubi鈥檚 share of time spent with TV for the month was 1.4%, higher than Paramount+ (1.0%) and equal to Max (1.4%), per Nielsen.

Digital video surpassed traditional TV in time spent in 2023. The gap will continue to widen, reaching 40 minutes in 2027. The ability to watch videos on smartphones, tablets, desktops/laptops, and CTV gives digital a flexibility advantage over TV. The video streaming landscape provides viewers with almost unlimited choice.

TikTok users are spending half of their time watching videos that are 1 minute in length or longer, according to The Information.

狈别迟蹿濒颈虫鈥檚 time spent exceeds its ad revenues the most. YouTube leads in time spent and ad revenues. Amazon will make a big splash in streaming advertising.

Time spent is decreasing across cable and broadcast TV but increasing in streaming. In Q4 2022, streaming boosted overall time spent with TV among US adults, reversing the decline in TV viewing over the past few years, according to Nielsen.

Over one-third (37.7%) of US consumers鈥� time spent with TV is with streaming services, per Nielsen. Cable is not far behind, with a 30.6% share of consumers鈥� TV time.

Time spent with TikTok will reach 55.8 minutes per day among US adult users this year, per our latest forecast, about 9 minutes more than expected in last year鈥檚 update. In 2024, time spent will increase to 58.4 minutes, up 4.8% year over year. We also expect TikTok鈥檚 US user base to cross the 100 million mark this year.

I was just going to add to that the Latin American countries has the highest rate of social media usage in the world, one of the highest daily times spent with digital platforms. So a lot of these trends that we see in the original regional of origin have migrated with them to the US and have helped over index a lot of these trends.

Time spent on media and consumer spending are plateauing, making one company's gain another's loss. Diving into these market dynamics, we explore innovative strategies for advertisers and retailers to win consumers in the new digital era.

But TikTok crushes the competition in terms of time spent among 16- to 25-year-olds. The amount of time the 16-to-25 age group spends with TikTok weekly is more than triple their time spent with Instagram or Snapchat, according to September 2022 data from Measure Protocol. YouTube is TikTok鈥檚 closest competitor, trailing by more than 6 hours.

Meanwhile, our forecast shows time spent on the platform growing more slowly than expected, possibly due to the company鈥檚 decision to inundate users with shoppable content in a bid to boost sales.

Notable growth will be in time spent. Subscription OTT video viewers will make up 75.8% of US internet users and 84.6% of digital video viewers this year, according to our February 2024 forecast. Because the market is already so saturated, 鈥渢here aren鈥檛 a whole lot of new people coming into streaming,鈥� Benes said. That鈥檚 why growth in time spent is more important.