The answer to the big question about cutting the cord: Millennials, millennials, and millennials.
Fed up with the pricing and customer service of local cable companies, millennials are creating a significant shift in the market place towards alternative ways to view traditional-television content. In Lindsay Rothfeld’s recent article, “Why Millennials are Increasingly Cutting the Cord,” she explores recent studies about millennial viewing preferences and speaks with industry experts on how those preferences are changing the entertainment industry.
A recent survey published by Frank N. Maged Associates reveals the dramatic shift with younger viewers. Among 18 – 34 year olds, the study found:
- 23 percent view TV as the primary medium of entertainment, a decrease of 17 percent
- 50 percent believe they cannot live without a smartphone, an increase of 28 percent
- 76 percent of millennial cord cutters are satisfied with digital content they view outside traditional cable/TV channels
Additionally, millennials are choosing variety of platforms to view digital content. According to Verizon, 68 percent of younger viewers use personal computers, 31 percent use a smartphone and 29 percent use a tablet to view content. On the flip side, 40 percent of younger viewers still want access to live TV content and prefer real-time experiences over on-demand.
Roy Sekoff, President of HuffPost Live, agrees that the ‘death of TV’ is premature. He continues, “We are certainly seeing a seismic shift in the way people consume content –- and a trend towards cord-cutters and cord-nevers. But millions and million of people still watch what we’d think of as traditional TV.”
While studies continue to show millennials are shifting the way people watch digital content, the key to long-term success is delivering great content to capture all types of viewers across multiple delivery platforms.
