Young adults 18-24 are 23 percent less likely to cut pay-TV service if they are aware that their provider delivers TV Everywhere.
That's the conclusion of telecom, media and technology consulting firm Altman Vilandrie & Company. Overall, the firm found in its survey, only about 36 percent of customers know about multiscreen services offered by pay-TV operators.
Also according to the survey, 86 percent of U.S. adults over the age of 35 have a pay-TV subscription compared to 72 percent for adults 18-34. About 37 percent of those who have cut the cord, or have never had the cord, are identified in this younger millennial group.
The firm found that among younger millennials (18-24), 54 percent said they're more likely to choose an operator based on multiscreen services. The response was 47 percent for "older millennials (25-34).
"It seems like there's an opportunity to attract new subscribers and retain [current subscribers], particularly among Millennials," Jonathan Hurd, a director at Altman Vilandrie & Company, who led the survey, said to MediaPost. "They responded even more than the older population to that value proposition."
The survey polled 3,400 adults and was performed with the help of premium cable programmer Epix.
Usage of TVE services has been on the rise lately, with Comcast (NASDAQ: CMCSA) reporting a 60 percent rise in the number of downloads for its Xfinity TV app over the last seven months. But awareness of the initiative needs to be improved among younger adults, Hurd added.
"There hasn't necessarily been a commitment across all service providers and programmers to market it," he said. "They've got to do more and target [these] campaigns better to reach Millennials."
For more:
- read this MediaPost story
- read this Streaming Media story
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