Published on September 6th, 2018 | by Brad Gibson0
Study: 85% of millennials are streaming video subscribers
More than 85 percent of U.S. millennials, age 22 to 37, subscribe to at least one streaming video service, according to a new study, while the average subscription length for those services is 30 months.
The new study from analytics research company Parks Associates shows the rate for cancellations of streaming video services among U.S. broadband households has held steady over the past three years at approximately 18 percent.
“With OTT service penetration starting to plateau at around 65 percent adoption among U.S. broadband households, the (streaming) video market is reaching a level of saturation for the services currently available to consumers,” said Parks Associates research analyst Hunter Sappington. “In an increasingly crowded and competitive marketplace where subscriber acquisition costs are high, this plateau highlights the need for (streaming) services to focus on retention rather than solely acquisition.”
Sappington believes by 2022, more than 265 million households worldwide will have more than 400 million streaming video service subscriptions.