Smart TVs are now to be found in seven out of ten homes, according to a study by Hub Entertainment Research.
The survey, conducted among 5,000 US consumers in February and March 2021, also showed that smart TVs now account for over half of all TV sets. The pandemic accelerated the sales of smart TVs, with many consumers upgrading their older non-smart sets.
Homes with children under the age of 18 are far more likely to own a smart TV (59 per cent of all TV sets are smart TVs) or in homes where the oldest person is under the age of 35 (61 per cent ).
The increased use in streaming services has driven the sales of smart TVs. 56 per cent of all homes say they stream using a smart TV at least once a month- up from 48 per cent in 2020.
Lastly, the pandemic has brought about a big change in the way people buy their smart TVs as many moved to online purchasing.
In 2019, more people (27 per cent ) planned to purchase their new TV set in a retail store, as opposed to 27 per cent opting for an online purchase.
“The wider adoption of smart TVs and replacement of non-smart TVs turns up the pressure on connected devices like streaming boxes, streaming sticks, and video game consoles,” said David Tice, Senior Consultant to Hub and Co-author of the study. “This ‘eliminating of the middleman’ will have a direct impact on how future revenue is split on advanced TV businesses like streaming, interactive shopping, and addressable advertising.”