The Generational Gap is Closing Among Pay-OTT Subscribers
In the world of traditional and streaming TV, demographics are key. They enable operators to define and target specific audiences, as well as offer advertising to others looking to reach targeted subsets of the television audience. In our latest research paper, ‘OTT isn’t just for Christmas: The gift that keeps on giving’, you can explore SVOD OTT trends happening within the various age demographics, as well as how different demographics’ viewing habits are changing over time and more. Here are some highlights:
Big leaps for mature audiences
It’s well known that Millennial audiences have been driving OTT growth for many years, however we are now seeing significant changes in the behaviours of older demographics as pay-OTT adoption for the over 45s in particular begins to shift dramatically.
Older audiences are quickly getting up to speed on everything pay-OTT has to offer and there was a large uptick in the percentage of 45 to 54-year-olds that now have OTT subscriptions, increasing dramatically from 25% in 2015 to 42% in 2016. Subscriptions among those aged 55+ have also significantly increased to 32%, up from 19% last year. Older consumers are clearly becoming more tech savvy and engaged with the abundance of pay-OTT services on offer.
As expected, Millennials remain the strongest demographic for pay-OTT adoption, with 52% of all survey respondents under age 35 now having a pay-TV subscription. Nearly half of 35 to 44-year-olds now subscribe to a pay-OTT service with a further 22% planning on signing up for a new subscription over the festive period; compared to just 27% reporting having a subscription last year. Our research shows that young, working adults between the ages of 20 and 44 years old, with busy, time-constrained lives predominately enjoy the convenience of content on demand.
Look who’s streaming
The numbers are clear – pay-OTT is experiencing a high rate of growth across all audience demographics in every territory surveyed (Australia, Brazil, Germany, Singapore, the UK and US). The wide array of connected devices and screen technologies are making it easier for all consumers to view content on the go.
Predictably, younger audiences are more likely to sign up for OTT around the holidays, with under-35s now nearly three times more likely to subscribe before Christmas than those over age 55. However nearly a quarter of those age 45-54 planned to sign up for a pay-OTT service during the festive season, either for the first time, or in addition to a subscription they already have.
Mature consumers, like the over 45s, are now becoming more technically inclined, owning more devices than ever before. Increasing adoption rates among older demographics can be attributed, in part, to greater accessibility for example – the trend of operators bundling OTT services within pay-TV packages, making them available through cable/satellite set-top boxes or via built-in Netflix buttons for new remote controls for smart TV. New technologies and partnerships have made it more attainable for age groups that are traditionally less tech-savvy to subscribe.
For deeper insight into the OTT viewing habits of consumers of all ages, download ‘OTT isn’t just for Christmas: The gift that keeps on giving’.