Approximately 75% of adults between the ages of 20 and 35 who’ve never subscribed to a pay-TV services say they consider subscription services like Netflix and Hulu perfectly suited to their content needs, according to a new report.
Additionally, two thirds of Millennial Cord-Nevers (MCNs) say the capabilities of SVOD are the most relevant reason they shy away from pay TV, according to data from research firm The Diffusion Group (TDG).
"The choice to live without legacy pay TV is undoubtedly multi-dimensional," said Michael Greeson, TDG’s director of research, in a statement. "High costs, poor value, and the availability of substitutes all play a role in this decision. Yet while cost of service has long been the dominant factor driving MCNs, the availability and sufficiency of SVOD now ranks as equally important."
The data also shows that of the more than 80% of MCNs who use SVOD services, more than 90% consider them all they need in terms of video content.
The data comes from second-quarter interviews with approximately 1,000 millennials who’ve never subscribed to a pay-TV service.