• by Wayne Friedman , Staff Writer, March 14, 2024

TV consumers in the United States are now spending on average $120 every month on total legacy pay TV and streaming services fees, according to research from Fox Corp.’s streamer Tubi.

Against this backdrop, the survey says 53% of Gen Z and millennials consumers believe they are overspending on streaming, with 71% saying they regularly cancel services.

Fifty-eight percent of all viewers are in favor of switching to ad-supported streamers if they believe it will save money, with 62% saying they prefer free, ad-supported streaming over paid services.

The research shows that 56% of viewers are streaming one to three hours of programming at a time, with 40% streaming three or more hours at a time. 

The Tubi research estimates that consumers use a total of just under four streaming services, with a total of 3.8 on average.

Heavy streamers -- those who view more than 15 hours/week and have just under five streaming platforms -- have about 4.7 streaming services on average.

Sixty-three percent of Tubi streamers are cord-cutters and cord-nevers, while 30% are unreachable on other major ad-supported streamers, according to MRI-Simmons’ November 2023 data.

When it comes to content, Tubi says Gen Z actually have wide-ranging interests -- from original content, to nostalgia, with reruns that can be more than 10 years old, as well as sports:

- 74%  of Gen Z and millennials prefer originals to remakes

- 67% of Gen Z and millennials turn to content that is 10+ years old because “the style and quality is good”

- 42% of Gen Z dedicate three or more hours each week to live sports streaming,  more than those on traditional cable and satellite TV (24%)

The survey was performed by The Harris Poll for Tubi from December 22, 2023 to January 5, 2024, among 2,503 adults ages 18 and older who stream video at least one hour a week.