"While SVODs like Netflix and HULU garner much of the world's attention, free, ad-supported and local streaming services are becoming powerful platforms for brands to make an impact in local markets around the country," said Aman Sareen, Co-Founder and Chief Executive Officer, ZypMedia. "Millennials are particularly responsive to local advertising messages, making ad-supported OTT a valuable channel."

Just how many people have cut the cable cord for streaming their favorite television shows and movies? Nearly half - researchers found that 47% are watching local streaming services, like CBSLocal or NewsOn, while about 46% are using free or ad-supported streaming services like PSVue or Netflix.

Researchers say about one-third (30%) of all US adults are cord-cutters - meaning they subscribed to cable services at one point but now stream their entertainment.

"With the rich targeting capabilities that OTT provides, local advertisers can now tap into this growing audience, many of which are cutting the cord, in favor of streaming," said Sareen.

Researchers polled more than 2,000 US adults to come to their conclusions.

Study finds local ads preferred by consumers

Local businesses may want to take a harder look at streaming services and ad opportunities there. That, according to new ZypMedia and Harris Poll data which found, among other things, that most (62% Millennial streamers) prefer local to national ads while streaming.