Millennials and their preferences
Millennials are the generations under the age of 35, which grew up with electronic things. Paper is just past for them.
Millennials are reshaping the economy; they change the way everything is bought and sold. They are living in a rapid change and their priorities are different than they used to be.
According to a study by comScore and YouTube, it was found that while Millennials are widely considered to consume more digital video than the average person, an impactful finding from this study revealed their stated preference of digital video to traditional TV (both live and time-shifted). In terms of time spent, traditional TV still eclipses digital video among Millennials. However, when asked to select their one preferred provider for any form of video content, YouTube was the leader among Millennials at 35%.
1 in every 8 Millennials considers YouTube their preferred destination for watching “current season TV shows”.
According to Google, 18 to 34 year olds spend 50 percent more time watching online video than TV, and media metrics firm Nielsen has been tracking a decline in the amount of time both 18 to 24 year olds and 25 to 35 year olds spend watching TV in the US for the last couple of years. That includes video-on-demand services on computers and tablets – but short form video is especially popular among the very young.
Younger consumers are also willing to subscribe to payTV services and OTT if they can meet their expectations. Millennials show higher-than-average affinity for popular culture and premium movie channels as well as programming for younger children. A lot of primary schools around the world are adding new “programming” subjects for kids between the age of 7 and 10.
As a conclusion, millennials consume more online video than any other audience. If you, as a provider, do not deliver online video, maybe it is the right way to start. Take a look at the following questions and think of a nice answer. Why not launch OTT (over – the – top) service? If you already have, how well does it work? How are you different from the competition? Are you delivering what they want, where they want it?