Millennials Demand Quality-Viewing Experiences. Period.
Viewers of every age expect quality-streaming experiences. Technical difficulties are not easily forgotten nor forgiven. Millennials (18-34 year olds), which make up the largest segment of online viewers, are the most impacted by low-quality experiences. This age group streams more often and for longer periods of time than everyone else. So, what must online providers do to ensure they are appealing to this very important audience? It’s simple: they must stream quality, TV-like experiences, every time, everywhere, every day. No exceptions. But providers still seem to be having a hard time matching viewer expectations. The question is why?
Verizon Digital Media Services’ new Video Streaming Quality report and infographic illustrate how important quality is to every viewer. Based on a survey we commenced on 1,000+ U.S.-based consumers that streamed video regularly, 86 percent of those surveyed said that a TV-like experience is always important, every time they watch and on every screen they use. The sheer volume of online video consumed by millenials makes it especially important to deliver quality experiences to them.
Millennials reported that they watch 34 percent more premium1 online video than the rest of the population. According to Nielsen, they spend about 15 hours and 36 minutes watching premium online video per week.
The implication of this data is profound. Despite quality problems, online viewing continues to grow. The average U.S. viewer watches almost 32 hours of TV total (both live and on-demand). And although young millennials watch only 16 hours and 18 minutes of regular TV, they make up for the other 16 hours by watching video from online sources.
Mobile is huge among millennials. 42 percent of millennials say they stream every day on their mobile devices, while just 27 percent of non-millennials say this. Three-quarters of millennials say their average mobile viewing session is longer than 30 minutes, whereas just over half of non-millennials say this.
Millennial have not completely abandoned the big screen, however. 43 percent of millennials still stream content via connected TV, whereas only 34 percent of non-millennials do so.
Despite reporting losses of around 25 percent of their revenue due to poor-quality experiences, video service providers are continuing to disappoint their viewers. Survey participants reported that a quarter of their viewing sessions were impacted by buffering, voice sync, slow start, pixelation or other quality problems.
Verizon asked survey participants to think about the last time they abandoned watching a video due to quality problems. 27 percent of non-millennials using their mobile said the last compromised viewing session lasted for more than 11 minutes. 38 percent of millennials said they continued watching past the 11-minute mark.
Although this data seemingly skews in favor of video service providers, this is simply not the case. Just because viewers appear more tolerant now, doesn’t mean they will remain this way forever. Addressing quality issues must be done today, if not yesterday. Why settle for the status quo when the opportunity to pave the way is here for the taking? The provider that builds the reputation for always-on, flawless experiences is going to be the one to compete against. So who will it be?
Thanks to our Broadcast/OTT Solution, it could be you! Our end-to-end solution prepares, delivers, displays and enables the monetization of quality TV-like experiences to every device, everywhere. By giving viewers what they want, you’ll be setting industry standards and leaving everyone else in the dust. Clearly there are still a lot of challenges to overcome involving online video delivery. Our solution will help you easily resolve these challenges so you can concentrate on what really matters: quality for your viewers!
1“Premium online video” refers to streaming video services that provide TV-quality experiences (in terms of production value) rather than video shorts.