TiVo has released follow-up findings from its 2016 TiVo consumer survey, focusing on the behaviour of US millennials and how this coveted demographic interacts with video content, products and services in contrast to other generations.
“The media industry is facing a perfect storm with increased choice and access to content, at the cost of massive fragmentation and frustrated consumers,” said Paul Stathacopoulos, vice president of strategy and strategic research, TiVo. “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 rationalize and realise returns on their investments in creative properties.”
Continuing the conversation around ‘show dumping’, TiVo found that millennials and Generation Z 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 trapped behind paywalls or spread across a variety of entertainment sources. On the other hand, TiVo’s survey also revealed that the millennial generation spends the most time each day watching video content – there is simply a limit to how many hoops they are willing to jump through before quitting on a specific show:
The complex, multi-service entertainment setup in most millennial homes splits viewing time across many platforms and services. Millennials have high expectations for cross-platform discovery solutions, which are largely unmet:
These results illuminate millennial viewing habits and the existing gap between viewer expectation and the current limitations of the discovery experience available to the average consumer. To appeal to millennials and future generations, best-in-class content and technology are necessary to capture continued interest, engagement and satisfaction.
These generational results are the US subset of the 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 US, and 500 interviews completed in each additional country, including the UK, France, Germany, China, Japan and India.