According to a survey from cloud video services provider Brightcove (NASDAQ:BCOV), 58% of consumers stream video content at least once a week via a smart TV or external streaming device, 51% on a mobile device, and 50% on a computer or laptop. Millennials (19-36 year olds) lead the way in all categories reporting 72%, 73%, and 65%, respectively.
Other findings indicate:
- The most influential factor for consumers who are considering a new streaming service is cost (53%), followed by their interests being catered to (31%).
- The top five reasons consumers will try out a new streaming service include a free trial (42%), a particular show (38%) exclusive content (29%), cross-device capability (28%), and a good user experience (26%).
- TV is still the top device to consume content on (other options included mobile and computers) for regularly scheduled news (68%), regular season sports (69%), breaking news (54%), special sports events including title fights and championship games (66%), concerts (53%), and fashion shows (45%).
- Advertisements and technical issues are the key spoilers for live streaming experiences, with too many ads (37%) and poor image or video quality (35%) being the top reasons for respondents' having abandoned a live stream, followed by buffering (33%) and the live stream crashing (32%).
"Across all generations, consuming online video is now an integral part of our daily entertainment routines. Today, we're seeing technology-savvy consumers stepping into decision making roles, making it even more critical to understand the motivations behind these decisions," said Sara Larsen, CMO, Brightcove. "As the industry leader in online video, it's our job to help our customers be successful with their video strategies, and with that comes staying on top of consumption and buying trends across generations. Today's reality is every generation is consuming online video more than ever, so we want to ensure our customers have the knowledge and data needed to reach massive cross-generational audiences in a way that allows them to better connect with their viewers."
Data on Millennials indicates:
- 44% of Millennials describe themselves as "browsers" when looking for something to watch, while 26% of Millennials think of themselves as decisive.
- Millennials feel far more satisfied consuming content through streaming service providers: 68% feel streaming service providers continually provide content they want to watch, compared to 55% who feel the same of broadcast networks and 53% for cable networks.
- 11% of Millennials would embrace a subscription-based model to consume sports content, and 24% would embrace an ad-based model.
- 63% of Millennials share their streaming logins with at least one other person.
Total sample size was 10,502 adults from the United States, UK, France, Spain, Australia, Germany, Canada, and UAE. Fieldwork was undertaken between Sept. 5-27.