A new study suggests that pay-TV providers might not be able to count on today’s 18- to 34-year-olds as longtime future customers. At the Cable Show today in Washington, Pivot — Participant Media’s cable network that launches August — released the first of what says will be an annual industry report about how millennials consume TV content. The study looked at “broadbanders” (aka “cord cutters” or “nevers”), those who do not currently subscribe to pay TV services but have broadband/Internet access and watch TV programming, and “cross-platformers” (aka “strayers”), subscribers who have both broadband and Pay TV. Among the key findings: 13% of 18-34 year olds (8.6 million) who already have broadband service are committed to a broadband-only existence, a much higher percentage than in previous reports. In addition, many cross-platformers are looking to stray from the “pay-TV ecosystem” (17.9 million 18-34s, as well as 32 million 18-49s). But the report also indicates that 7% of at-risk cross-platformers would consider keeping their pay TV subscriptions if offered programming streamed live and on demand anywhere/everywhere, and 58% of broadbanders would consider subscribing to TV for a bundle of networks from their broadband provider, streamed live and on demand. Not surprisingly, 92% of respondents ages 18-34 want VOD streamed everywhere and anywhere and 94% would feel more positively about networks that offer VOD streamed everywhere.Here are some other results of the Pivot study:
• 86% want live streaming TV everywhere;
• 91% would feel more positively about networks that offer live streaming TV everywhere;
• 89% of cross-platformers are more likely to keep their cable, satellite, or telco TV subscription if they were offered TV networks/channels that provided VOD streamed everywhere;
• 85% of cross-platformers are more likely to keep their cable, satellite, or telco TV subscription if they were offered TV networks/channels that provided Live streaming TV everywhere;
• 87% of at-risk cross-platformers would consider keeping their pay TV subscriptions if offered programming streamed live and on demand anywhere/everywhere;
• 55% of loyal cross-platformers intend to keep pay TV primarily because they like the option of watching live TV;
• 44% of pay-TV-craving broadbanders miss their favorite live shows, while only 19% say they miss live sports;
• 31% of broadbanders miss watching live TV as an option;
• 58% of broadbanders say they are likely to subscribe to a bundle of TV networks from their ISP if offered; and
• 51% of broadbanders and 85% of potentially straying cross-platformers say they would consider paying as much as $20 per month for such a bundle.
The study, led by Karen Ramspacher, Pivot’s SVP Research and Insights, and conducted by Miner & Co. Studio in association with Beagle Insight.