SAN FRANCISCO—A new Samba TV study argues that millennials comprise a crucial demographic for ad-supported streaming services and that the group, which covers over 72 million U.S. adults with more than $2.5 trillion in spending power, are more open to ad-supported video-on-demand (AVOD) streaming services than other generations.
"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," said Samba TV Co-founder and CEO Ashwin Navin. "Their willingness to consume ads when streaming is a unique opportunity for advertisers to reach more than 20% of the US population, with more spending power than retiring baby boomers. By embracing an omniscreen strategy that addresses all the platforms where millennials consume video, advertisers can align their campaigns to connect with this hugely impactful audience."
Key findings from the report include:
- 8 in 10 millennials stream TV shows, with 84% of those streamers using Netflix.
- 73% of millennial parents subscribe to a streaming service for just their kids.
- 68% of millennials have a streaming subscription that shows ads, more than any other generation.
- 21% of millennials with a Netflix subscription signed up for the ad tier, with 68% of this group subscribing to the platform after the lower-cost ad tier was released.
- 68% would be likely to change their streaming subscriptions if a current one released a cheaper version with ads.
- 85% look at a mobile device while watching TV.
- 72% would watch live events on top SVOD and AVOD platforms if they were offered.
The full report is available here.
This survey was conducted online within the United States from August 22-30, 2023 among 2,507 adults in the United States by HarrisX. The sampling margin of error of this poll is plus or minus 2.0 percentage points.
