The growth of subscription video-on-demand services has been well documented but it looks like a new milestone is in the works. Deloitte’s annual Digital Media Trends survey suggests that more consumers now subscribe to a streaming video service than to traditional TV.
The survey of more than 2,000 US consumers reveals that 69% are now using streaming video services, compared to 65% who subscribe to a pay-TV service.
The gap between streaming video and traditional TV usage is especially apparent with younger respondents. An impressive 88% of Millennials (ages 22-35) report paying for a streaming video service, versus just half (51%) who use pay-TV.
While not quite as dramatic a gap, Gen Z are also much more apt to be paying for streaming video services (80%) than for pay-TV (57%).
Indeed, it bears noting that other research sources have not quite come to the same conclusion as Deloitte’s study. Nielsen figures from Q3 2018 show that more than three-quarters (76.4%) of US households are using traditional TV services, while close to two-thirds (65%) subscribe to video on demand (SVOD) services. Read the rest at Marketing Charts.