It should come as no surprise that Millennials are cutting the cord more rapidly than other generations, reports Media Life magazine, which added: “This is, after all, the group that came of age as YouTube rolled its first cat videos and Netflix ordered the then-revolutionary “House of Cards.”
“Millennials understand much better than their elders how many entertainment services are available out there.
“The real question for media buyers and planners, then, is not whether these young people are cutting the cord but what they’re doing for entertainment once they’ve snipped.
“A new study from market researcher Gfk provides some answers, examining where cordless Millennials go for their TV viewing.
“Gfk found that nearly a third of Millennials have cut the cord, some 30 percent. That’s nearly double the number of Baby Boomers, at 16 percent.
“In fact, Millennials make up 43 percent of those Americans who lack pay cable service of any kind.
“The really interesting part of the study, though, examined what these people view instead of watching cable.
“Some of the answers were what you’d expect. They’re subscribing to Netflix, Amazon Prime and Hulu in big numbers.
“Those three have the largest subscriber bases for any streaming video-on-demand services, so their widespread adoption certainly isn’t a surprise.
“Another favorite is YouTube, which provides free content. Indeed, many Millennials consider YouTube stars to be just as important and trend-setting as traditional television stars.”
Check out the Media Life article to see the full story.