Millennials value quality above all for online video
Michelle Clancy | 07-03-2014
What do millennials want when it comes to online viewing, and what should broadcasters invest in to capture the opportunity with this demographic? Research from Verizon Digital Media Services suggests that the answer, primarily, is quality.
The research company's survey found that millennials are extremely sensitive to quality and performance. They are quicker than older generations to abandon an entertainment source if the quality is poor, slow-loading or has other technical problems.
"Understanding the needs, wants and habits of millennials is critical for success in the digital media industry," said James Segil, CMO for Verizon Digital Media Services. "The research reflects some interesting findings, and we were pleased to see that millennials share our passion for quality, speed, and a superior experience."
Thus, incorporating high quality, high performance online video must be part of broadcasters' distribution model going forward. Companies that fall behind on this front will be at a significant competitive disadvantage among millennials, who expect instant-on, high quality video regardless of their device or location.
This cohort isn't just demanding when it comes to quality: as an on-demand generation, millennials expect to choose how, what and when they watch. Millennials are also more likely to use multiple screens when enjoying entertainment, but less likely to use second and third screens for purposes directly related to what they're watching.
The report also uncovered the fact that millennials are brand loyal, but far less loyal to traditional broadcast networks than non-millennials. In fact, not a single network made the top ten list of brand loyalties for millennials, making quality and reach just that much more important for broadcaster success in this market.