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Millennials more likely to turn to Netflix for TV: Study
MUMBAI: Streaming is the new normal for millennials, according to the ‘State of Cable And Digital Media 2016’ report from Horowitz Research.
Millennial (18-34 year-old) TV content viewers report spending 54 per cent of their TV viewing time streaming and just 25 per cent live. Across total TV content viewers 18+, the picture is flipped: 50 per cent of viewing is live and 29 per cent is streamed.
The Horowitz study, conducted annually, has been tracking the rapid shift from traditional (live, DVR, and VOD) to streaming. Since 2012, the weekly share of viewing that is streamed has risen from 15 per cent in 2012 to 54 per cent in 2016, while traditional viewing has dropped from 75 per cent to 39 per cent among Millennials.
The study also reveals that millennials are more likely to turn to Netflix when they want to watch TV than to live television: 36 per cent say Netflix is their first “go-to” source for TV content; 29 per cent say they go to live TV. Although streaming has increased substantially over the past few years, traditional television continues to have value. Three-quarters (76 per cent) of 18-34 year-olds use a combination of traditional and streamed content; just 13 per cent use streaming exclusively.
Horowitz director of marketing and strategy Stephanie Wong notes, “It’s an exciting time to be in the video industry. Established MVPDs like Comcast and new players like Layer3 alike are seeking to improve the value proposition of pay TV and reinvent the traditional TV experience with features like voice control, social media integration, and a more seamless cross-platform viewing experience. Whether these features will be enough to keep Millennials with traditional distributors is the next big question.”
State of Cable And Digital Media 2016 is a syndicated consumer survey that tracks the market for multichannel, broadband, and mobile content, services, and technology. The study was conducted by Horowitz Research in January 2016 as an online/phone survey among 1,401 TV content viewers who are heads of household 18+.