Mil­len­ni­als drive big growth in video-stream­ing ser­vices

The West Australian - - WEST BUSINESS - Sean Smith

Dig­i­tally savvy young adults have driven an­other year of sharp growth in video-stream­ing ser­vices, with Aus­tralian sub­scribers now watch­ing nearly two hours of streamed videos ev­ery day.

Ac­cord­ing to Deloitte’s an­nual me­dia con­sumer sur­vey, the per­cent­age of Aus­tralians pay­ing for a sub­scrip­tion-video-on­de­mand ser­vice such as Net­flix or Stan leapt to 43 per cent over the past year from 32 per cent. Nearly 60 per cent of re­spon­dents pay for two ser­vices.

Those aged 29-34, led the way, with 62 per cent of re­spon­dents hav­ing a video-stream­ing sub­scrip­tion, up from 37 per cent in last year’s sur­vey.

But older users are also em­brac­ing video on de­mand, with sub­scrip­tions among baby boomers, those aged be­tween 50 and 70, leap­ing to 34 per cent from 23 per cent.

But the pro­lif­er­a­tion of dig­i­tal con­tent is also prov­ing a dis­trac­tion for house­holds.

Deloitte says 91 per cent of TV watch­ers “multi-task” while watch­ing the screen, pri­mar­ily by us­ing so­cial me­dia at the same time.

“This can re­sult in a type of pas­sive con­sump­tion, which is con­cern­ing if it starts to im­pede our abil­ity to fil­ter im­por­tant in­for­ma­tion like news,” the sur­vey’s au­thors said.

They also note that daily use of so­cial me­dia de­clined again last year, from 59 per cent to 55 per cent, on par with 2014 lev­els.

The pro­por­tion of re­spon­dents clas­si­fied as heavy users of so­cial me­dia, those that up­date or check their pro­file at least 10 times a day, fell to 9 per cent from 12 per cent. The biggest move­ment was in the 14 to 28 age group, where heavy users fell from 26 to 15 per cent.

News­pa­per sub­scrip­tions rose to 17 per cent from 16 per cent of re­spon­dents, though Deloitte noted a con­tin­ued re­sis­tance among con­sumers to pay for news con­tent.

How­ever, the sur­vey noted the in­creased aware­ness of qual­ity, in­tegrity and re­spon­si­bil­ity in news sources as key fac­tors in the will­ing­ness of con­sumers to pay for news sub­scrip­tions.

The 29-34 age de­mo­graphic, Deloitte said, listed trust and brand as­so­ci­a­tion (26 per cent), unique con­tent (24 per cent) and val­ues align­ment (19 per cent) as rea­sons they would be more will­ing to pay for news.

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