The global leader in entertainment technology and audience insights, TiVo, has released the findings of its ‘2016 TiVo consumer survey’, concentrating on the behaviour of millennials and how the demographic interacts with video content, products and services in compared to other generations.
TiVo found that millennial and Generation Z (those born between the mid-1990s and early 2000s) viewers are more than likely to ‘give up’ on shows they previously enjoyed when they become too difficult to access; either finding the content trapped behind paywalls or spread across a variety of entertainment sources.
Regarding the search for content, analysis discovered millennials consume up to six hours per day of video; in addition to spending an estimated 32 minutes searching for content to watch.
In contrast to other generations, millennials are most comfortable with video entertainment services and devices, likely driven by their desire to stay at the forefront of the newest content. 91 per cent pay for at least one subscription streaming service, and 73 per cent have streaming video devices at home.
Vice president of strategy and strategic research at TiVo, Paul Stathacopoulos commented: “The media industry is facing a perfect storm with increased choice and access to content, at the cost of massive fragmentation and frustrated consumers.
“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. These are cautionary signs for content owners who rely on loyalty and continued engagement to rationalise and realise returns on their investments in creative properties.”
Primarily based on the attitudes of US millennials, TiVo researchers carried out an online survey of 5,500 pay-TV and OTT subscribers across seven countries, conducted 2,500 interviews in the US and an additional 500 interviews each in the UK, India, Japan, Germany, France and China.
Download the survey infographic and generational chart here