Younger demos prefer watching video on a smart phone than smart TV by a vast majority, but for the 18-plus audience, a TV is still the preferred device.
That is according to the inaugural Digital Strategy Study from Manatt, Phelps & Phillips LLP and Vorhaus Advisors.
The study, based on a consumer survey, found that 72% of the 18-34 demo had used a smart phone to watch video at least once a week, while only 52% had used a TV set for online video.
Nearly six in ten said they subscribe to Netflix (of the 74% that have a subscription video on demand service), and said they plan to add another one or two such services in the future.
The survey also found that slimmed-down video packages could be a way to turn cord-cutters into cord-shavers. About a third (35%) of the respondents said they would be interested in lower priced "skinny bundles"--47% said cost was the primary reasons for cord cutting.
More than half of the respondents said they streamed some live video every day.
“SVOD and OTT continue to grow and traditional pay TV remains under pressure from cord-cutting,” said Mike Vorhaus, CEO of Vorhaus Advisors. “Our data suggests that skinny bundle offerings are an effective strategy for winning back traditional pay TV consumers. Furthermore, traditional television consumption remains highly attractive, particularly among the population 35 years and older.”
The survey polled 2,000-plus U.S. respondents 18-plus.