A new study by Verizon shows that the younger generation are adopting to internet TV more than the ‘oldies’. But the report throws up some interesting stats, such as the Millennials (age range 16-34) watch 3x more online TV than the older generation.
But much as they love watching online, the content available is not enough to convince them that cutting the cord is a good option. The study called ‘Millennials & Entertainment’, shows the majority still have a cable or satellite subscription.
Although the younger demographic want value, they are also happy to pay for a better viewing experience. They account for 21% of total consumer spending ($1.3 trillion per year).
As Pay-TV still offers the latest programming and top rated shows, it is no surprise that many are not prepared to move to an online only TV experience just yet. Of those that do not subscribe to any Pay TV service, almost 40% say they get all the programming they need online.
The study (which can be accessed as a PDF here), interviewed 1,000 respondents of which 800 were millennials, revealed that live TV is still watched by 41% of youngsters, whilst 59% of older viewers still indulge in some TV live action.
Their TV watching habits are broken down as follows – Live TV (41%), Internet TV (34%), DVR watching (15%), and On-Demand (10%).
They also regularly use a second screen whilst the TV is playing, but rather than looking up the show or related details, they post to Facebook (71%), shop online (73%), head to Twitter (49%), and read e-books (43%).
Like the rest of us, millennials like to indulge in binge viewing with 39% saying they regularly do it frequently and to them, a good day of binge viewing totals up to 8.2 episodes.