Millennials watch more TV via streaming than via all traditional means combined (live, on-demand, or DVR.) In fact, 54% of their TV time is spent streaming, and only 25% is live TV.
If you think this shift happened suddenly, you’re right. Less than four years ago, only 15% of Millennials’ TV time was spent streaming.
It’s not surprising then, that Millennials go to Netflix first when they want to watch TV. Live TV channels are their second choice.
Millennials are less likely than other demographics to have cable or satellite services. If they do subscribe, they are more likely to be thinking about “cutting the cord.”
All is not lost for traditional TV (yet.) Only a very small group of Millennials exclusively stream TV; the vast majority combine streaming and traditional viewing. And, if you look at all Americans over 18 years old—not just Millennials—they watch 50% of their TV content live.
We expect the streaming trend to gain momentum. Because where Millennials lead, other generations follow.
What are the implications for your business?
- How does streaming TV fit into your marketing plan?
- How does the slow decline of traditional TV impact your marketing?
For help developing powerful digital strategies that work, compelling marketing strategies that drive results, strategic plans that deliver growth, or new products that consumers love, contact Brandology at 925-417-2253 or Maura@Brandology.com.
Sources: Consumer Technology Association 2016, Horowitz Research 2016