Salesforce was nice enough to publish a report on consumer media consumption, which basically breaks down our preferences on how and where we binge-watch our shows. We figured we’d share the insights from the 28-page report (we know you’re not going to read all of it).
Consumers are watching, reading, and listening to content from new digital sources that cut out the go-between distributor (take that cable stations) — and they’re doing this from numerous devices, from anywhere they please. Here’s the deal, we want control, freedom, and the ability to customize our choices, and there is nothing Big Media can do about it.
Media Habits
Younger generations are calling the shots, and they want to stream everything – videos, TV, movies, music – you name it.
Here is what jumped out at us from the report:
- We’re ditching the TV in favor of our phones and computers.
- Three-quarters of a million of us are playing a lot of games on our phones. Candy Crush, anyone?
- Millennials and Gen Zers will fight you for their smartphones.
- Tuning in for scheduled programming is a thing of the past, anyone remember TGIF on Fridays?
- What’s a DVD? Only 12% of all media consumers frequently buy DVDs, and even fewer rent them on a regular basis.
- Millennials and Gen Zers ❤️ social media.
Digital Content
Traditional media is taking a big-time dive. Print, broadcast, magazines, and cable are all getting their asses kicked by new media.
Here’s the deal:
- The olds are catching on and ditching cable. 61% have increased their viewership of subscription streaming video in the past two years.
- Podcasts aren’t as popular as all the people starting them. You get a podcast! You get a podcast!
- People want content when they want it, and no one is going to dictate otherwise.
- We like options. 33% of all consumers (and 50% of Millennials) maintain subscriptions to two or more paid streaming video services.
Big Media
Out with the old, in with the new.
The times they are a-changin’:
- Social media ranks as the number one source, over TV advertising, for providing very or somewhat relevant promotions.
- The youngins do not want ads and will pay to skip them.
- Four out of 10 Millennials and Gen Zers value personalized recommendations enough that they’re likely to pay for them. Think sports, removal of ads, access to premium content (movies still in theaters).
- Take all my personal info, as long as I get something for it. More than two-thirds of media consumers are at least somewhat comfortable with their personal preferences being used in exchange for exclusive access to content.
The next few years are going to shake things up even more for media companies. Consumers are driving demands and are not beholden to giant cable companies dictating their content.
We want great, relevant, accessible content on all devices. Beyond the content itself, consumers foresee a media landscape in which producers, distributors, and their partner ecosystems join together to create more comprehensive content offerings.
Let’s do this. And give us a shout if you want even more insights on how this impacts you, your business, and beyond.
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