When it comes to generational viewing habits, Millennials are the most open to ad-supported video-on-demand (AVOD) services, according to a survey by HarrisX for Samba TV.
Eight in 10 of the U.S.’s 72.2 million Millennials — who collectively represent $2.5 trillion in annual spending power — watch TV via streaming services, and 84% of those have Netflix.
More than two-thirds (68%) have a streaming subscription that includes ads — more than any other generation.
Nearly a quarter (21%) with a Netflix subscription signed up for the ad tier, with 68% of that group subscribing to the platform after the lower-cost, ad-supported tier was launched.
Sixty-eight percent also say they would be likely to change their streaming subscriptions if a current one released a cheaper version with ads.
Nearly three quarters (73%) subscribe to a streaming service for just their kids, and their household streaming behaviors reflect their kid-centric lifestyles. Netflix’s “Oddballs” was the top-indexing streaming program among Millennials in this year’s first half, Disney Junior is the top-indexing linear network, and Hot Wheels is the top-indexing advertiser.
Sixty percent — also more than any other generation — watch live sports on TV, and 72% would watch live events on top SVOD and AVOD platforms if they were offered.
But 71% say that watching the same ad for a brand repeatedly in a month would worsen their perception of a streaming service.
“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,” comments 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 U.S. 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.”