Service providers and content developers are looking to appeal to the TV tastes of the much-coveted Millennial generation in the United States, and new research from TiVo is indicating that employing the latest technology to make content discovery a seamless experience is key.
“The media industry is facing a perfect storm with increased choice and access to content, at the cost of massive fragmentation and frustrated consumers,” Paul Stathacopoulos, VP of strategy and strategic research at TiVo, observes. “The coveted Millennial demographic is in the eye of this storm, consuming the most content across the most services and platforms. However, members of this generation have short attention spans, and they are the most likely to ‘show dump’ when access to content becomes challenging.”
TiVo released follow-up findings this week to its 2016 consumer survey, focused particularly on U.S. Millennials (defined here as born in 1981-1995) and how the demographic interacts with video content, products and services in contrast to other generations.
TiVo’s findings say that Millennials and Generation Z (defined here as born 1995 and after) viewers are the most likely to give up on shows they previously enjoyed when it becomes too difficult to access them, either finding the content behind paywalls or spread across a variety of entertainment sources. Around 54 percent of Millennials surveyed have show dumped because they saw it as too difficult to access the content, That’s a contrast to 17 percent of surveyed Baby Boomers (defined here as born in 1946-1964) who say they’ve done that. Millennials also consume the most amount of content among the generations − more than six hours a day, according to the research.
Other findings include that 73 percent of Millennials surveyed report having streaming video devices at home, and 91 percent say they pay for at least one subscription streaming service. On average, Millennials own three streaming devices and subscribe to 2.7 paid streaming services, the TiVo research concludes.
In terms of using voice commands, 43 percent of the Millennials included in the survey use that in some form every day. Only about 8 percent of Boomers do the same.
The findings are the U.S. subset of overall research findings from an online survey of 5,500 pay TV and OTT subscribers across seven countries worldwide with 2,500 interviews completed in the U.S., and 500 interviews completed in each additional country, including the U.K., France, Germany, China, Japan and India.