Millennial and Gen Z viewers are more interested in original content than franchises and remakes. That’s one of the key takeaways from Tubi’s annual report, The Stream, which the ad-supported streaming service partnered with The Harris Poll to conduct.
Specifically, the report revealed that of those surveyed, 74% of Gen Z and Millennial participants said they prefer originals to remakes. Additionally, 71% of people surveyed from those age groups said they would like to see more more TV shows and movies on streaming that are either independent or from smaller creators, and 74% said they were interested in seeing more diversity and representation on screen.
The survey, conducted by The Harris Poll on behalf of Tubi in the U.S., took place from Dec. 22, 2023 to Jan. 5, 2024 and surveyed 2,503 adults who streamed at least one hour of video a week.
Of those surveyed, 56% said they stream one to three hours of programming in one sitting, while 40% said they stream three or more hours at a time. Heavy streamers were defined as those who watch 15 hours or more per week. The average consumer subscribed to four different streaming services (with a 3.8 average), and heavy streamers subscribed to five services (with a 4.7 average).
The study also dove into the ever-rising price tag of streaming. For example, the average American spends about $120 a month on streaming services and TV packages, which is more than the average monthly budget for gas ($112). At this cost, 53% of Gen Z and Millennial viewers polled said they believed they were overspending on streaming. An additional 71% said they cancelled subscriptions due to tiered memberships that force them to pay for certain content.
This frustration over cost led to 58% of viewers in total saying they would prefer to watch ads while streaming and afford an extra coffee a month than spring for a more expensive ad-free plan. Overall, 62% of those polled said they preferred ad-supported streaming over paid, which is good news for streamers like Tubi.
Fittingly, the report also contained some insights into Tubi itself. In 2023, the streaming service surpassed 8.5 billion streaming hours and 78 million monthly active users, which marked a 59% growth year-over-year in total viewing time. The streamer has seen the most growth when it comes to younger and more diverse audiences.
According to MRI-Simmons’ November 2023 Cord Evolution Study, Tubi has seen 60% growth in the coveted 18 to 34 demographic. It’s also seen 67% growth when it comes to Latine viewers, 58% growth when it comes to African American viewers and 85% growth when it comes to LGBT+ audiences. The female audience for the streamer has also increased 60% year-over-year.
Leave a Reply