December 20, 2018
We live in an over-the-top video world.
New data from Brightcove, the Boston-based cloud services company, has released global consumer consumption preferences across generations when it comes to live and on-demand streaming video content.
The company found that 58% of consumers stream 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.
As expected, millennials (19 to 36 years old) spearhead streaming video habits across all categories at 72%, 73%, and 65%, respectively.
The results are based on a commissioned YouGov online survey of 10,502 adults from the United States, U.K., France, Spain, Australia, Germany, Canada, and UAE between Sept. 5th and Sept. 27.
When analyzing all consumers’ (aged 18+) online video habits and preferences, the report found the most influential factor for consumers who are considering a new streaming service is cost (53%), followed by personal viewing interests, i.e. content (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 user experience (26%).
TV is still the top device to consume content on (other options include 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,” Sara Larsen, CMO, Brightcove, said in a statement. “Today, we’re seeing technology-savvy consumers stepping into decision making roles, making it even more critical to understand the motivations behind these decisions.”
When analyzing millennial video streaming preferences, Brightcove found that 44% describe themselves as “browsers” when looking for something to watch, while 26% 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.
Notably, just 11% of millennials would embrace a subscription-based model to consume sports content, and only 24% would embrace an ad-based model. Finally, 63% of millennials share their streaming logins with at least one other person.
“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,” said Larsen.