“Millennials respond to ad-supported VOD more than other demographics”
By Kingsley Odii
A recent survey by HarrisX for Samba TV has revealed that millennials are the most receptive to ad-supported video-on-demand (AVOD) services compared to other demographics.
The survey, which included 72.2 million millennials, found that 80% of them watched TV via streaming services, with a whopping 84% of them utilizing Netflix. Interestingly, 68% of millennials have a streaming subscription that includes ads, surpassing all other generations.
Furthermore, 21% of Netflix subscribers in this group opted for the ad-supported tier, and 68% joined the platform after the launch of the lower-cost, ad-supported option.
The survey also discovered that millennials are open to changing their streaming subscriptions if a cheaper version with ads becomes available. In fact, 68% of respondents admitted that they would consider switching to a different service if such an option were to arise.
Moreover, it was found that 73% of millennials subscribe to a streaming service specifically for their children’s entertainment needs. This household behavior is reflected in their top-streamed programs, as Netflix’s “Oddballs” took the lead in popularity among millennials in the first half of this year.
Among linear networks, Disney Junior stood out as their favorite, while Hot Wheels emerged as the top-indexing advertiser. While millennials enjoy ad-supported VOD, they expressed concern about repetitive advertising.
A staggering 71% of respondents mentioned that watching the same ad repeatedly within a month would negatively impact their perception of a streaming service.
Ashwin Navin, the co-founder and CEO of Samba TV, commented on the findings, stating that Millennials, who grew up on cable and were the first to cut the cord, have proven to be a core audience for AVOD and FAST platforms.
Navin emphasized that advertisers have a unique opportunity to reach over 20% of the global population through these platforms. With more spending power than the older generation, Millennials present a crucial target audience for advertisers.
Ashwin said, “Millennials are the generation that grew up on cable and were first to cut the cord, and have revealed themselves to be a core audience on AVOD and FAST platforms.
“Their willingness to consume ads when streaming is a unique opportunity for advertisers to reach more than 20% of the global population, with more spending power than the older generation”, Ashwin added.
Navin urged advertisers to adopt an omniscreen strategy that encompasses all the platforms millennials use to consume video content, allowing them to effectively connect with this impactful demographic.
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