Millennials Less Enthused About Pay TV

Millennials are still buying into pay TV -- but not surprisingly, their numbers are lower than older TV consumers. Just 63% of millennials -- those 18-29 -- have pay TV subscriptions. Seventy-seven percent of 30- to-49-year-olds have pay TV, and 78% of those 50 and older have a pay TV service, per media research company nScreenMedia.

Going forward, things might be tougher -- especially for those young TV consumers. The research says 98% of those young TV media consumers have no intention of getting pay TV, with just 2% saying they are “considering” subscribing in the next three months. Another 19% say they have “never subscribed.”

When it comes to canceling pay TV services, millennials are pretty much in the average range, with 18% saying they have canceled a pay TV service -- the same percentage as those 30-49 (18%) and a bit more that those 50 and older (14%).

Will millennials continue to take on pay TV? The report says they will, but it will be much more difficult than ever before. The study quotes a recent remark that Jeff Bewkes, chairman/CEO, said recently: “Once they take the mattress and and get it off the floor, that’s when they subscribe to TV.”                         
                
The rise of digital media is one major reason that this job will be more challenging.

Here are a few reasons: 71% say tweeting about an event “makes it more fun” and 70% "enjoy reading tweets while tracking a live event on TV.” The belief is that a passive television experience generates much lower interest among millennials.

"Young couple watching TV" photo from Shutterstock.

Recommend (2) Print RSS