Study: Millennials are ‘leading the streaming revolution’

Study: Millennials are ‘leading the streaming revolution’

http://mashable.com/2015/11/12/study-millennials-are-leading-the-streaming-revolution/

“Sorry, cable providers: Cord-cutting is still going strong, especially among millennials.

According to a new survey by Atlanta-based video technology firm Clearleap, streaming services are now considered “mainstream”

The study, exclusively given to Mashable, polled 1,111 U.S. consumers age 18 or older in July 2015.

SEE ALSO: 34% of Millennials Watch More Online Video Than TV

Here are five takeaways from the survey:

1. Millennials are “leading the streaming revolution.”

It’s no secret that 18-to-29-year-olds are less inclined to consume content on their big(ger) screens.

The survey found that 70.32% of respondents in that age demographic use a streaming service, while only 64.41% have a cable subscription. A whopping 84.93% said they have used a streaming service at some point in time.

“Millennials are really really important because they are growing category and driving a lot of the consumption behavior,” David Mowrey, of Clearleap, told Mashable.

2. People still prefer Netflix and Chill over Amazon/Hulu/other streaming services and Chill. (At least for now).

Netflix remains the streaming king in the crowded marketplace. In its third quarter earnings call, the Los Gatos-based company reported 69.17 million streaming subscriptions as of Sept. 30.

3. Mobile consumption is growing — but respondents under the age of 30 prefer viewing content on their laptops.

More than half (about 58%) of respondents under the age of 30 said they have watched streaming service content on their laptops, while over a third stream to their smartphones (39.1%). Meanwhile, the majority of users in the 30-to-44-year-old age bracket prefer streaming content on tablets (32.95%) and then laptops (31.79%).

4. You’re not the only one sharing your streaming service password.

Yikes: This stat doesn’t look too good for the streaming services out there. About 78.61% of 18-to-29-year-olds surveyed shared their login credentials with someone else. Nearly a quarter of young people surveyed said they have used a streaming service that does not belong to them.

It’s also common among older subscribers, who often share with family members. About 64% of current streaming service users between the ages of 30 to 44 and and 68.5% of users ages 45-59 have shared their login with someone else.

5. Good content + fair prices = The best way to get subscribers.

IMAGE: CLEARLEAP

IMAGE: CLEARLEAP

About 43% of those surveyed said they would dish out $10 to $25 per month for their ideal streaming service, a figure that surprised Mowrey and others at Clearleap.

About 24% said content was the most important deciding factor when choosing what service to subscribe to. About 23% of those surveyed said price was the most important.

Other factors — free trial, ease of use, recommendation from a friend and advertising — also played a role in users decision about which services to pick.

“Launching these OTT services is really challenging, but it’s a must have for any content company,” Mowrey said.”

Stephen