March 14, 2018
Subscription streaming video has long been a mainstay among millennials. Now, consumers age 55 and older are migrating toward Netflix, Amazon Prime Video and Hulu with greater frequency, according to new data from Ampere Analysis.
The average consumer between 55 and 64 years old streams the same amount of content – 1 hour and 20 minutes – per day as consumers between 18 and 24-year-olds. Yet, the 55+ demo accounts for just 13% of SVOD subscribers. The majority of SVOD subs are under 35 years old.
“It’s long been held that an ageing population offers a ready audience for broadcast TV, but our analysis shows that it’s time for a reality check,” Richard Broughton, director at Ampere, said in a statement.
Broughton said once older viewers subscribe to SVOD, either through advertising or following recommendations from friends and family, they shift their viewing patterns and consume content in a similar way to their younger counterparts.
The older demo watches content that ranges from action and adventure (14%), to sci-fi and fantasy (14%), crime thrillers (13%), comedy (8%) and documentaries (7%).
U.K.-based Ampere said that as the older demo matches market penetration with the younger subs in the U.S. and U.K., marketing teams of the SVOD services will increasingly turn their attention to older viewers.
“We expect this to herald yet more changes to content consumption for both broadcast and on-demand services,” Broughton said.