October 19, 2021
The vast majority of U.S. consumers (84%) are spending more time with online, rather than in-person entertainment, according to Deloitte’s just released Digital Media Trends Fall Pulse Survey.
Meanwhile, more than 80% of U.S. respondents in the survey conducted in August 2021 said they remain concerned about COVID-19 variants, and about half (48%) said they spend more time on online entertainment versus six months ago.
Among other findings in the survey:
- Both Boomers and Gen X still rank “watching TV shows or movies at home” as their favorite entertainment activity; “playing video games” is still ranked as Gen Z’s preferred form of entertainment.
- “Churn and return” behavior is most common with younger generations, with almost half of millennials (47%) and 34% of Gen Z canceling and then re-subscribing to the same service later.
- High cost and completing a TV show they signed up to watch are the top two reasons consumers canceled an SVOD service.
- 65% of consumers are engaging with at least one social media service several times a day.
- 65% of respondents are frequent gamers, playing at least once a week; on average, these frequent gamers play for around 12 hours a week.
The survey revealed that consumers are getting better at developing strategies to access online content while keeping their costs low. Among the findings:
- 84% of respondents now pay for an SVOD service; the average household has four subscriptions — largely unchanged during the past year.
- The churn rate — the number of people who have cancelled, or both added and cancelled, a paid SVOD service — has remained stable at about 38%, although it varies from service to service.
- Many streaming video subscribers say they actively manage costs in some way, either by looking for deals or promotions, bundles, using friends’ or family members’ accounts, and other strategies.
- Led by cost-sensitive and savvy millennials and Gen Zs, 65% of respondents reported using free ad-supported video services.