More than half of US millennials tune into SVOD daily

More than half of US millennials now tune into an SVOD service like Netflix, Amazon Prime or Hulu on a daily basis, according to Leichtman Research Group.

The research claims that 51% 18-34 year-olds stream a subscription video-on-demand service every day, up from 33% in 2015 and substantially more than the 29% of adults of all ages who now tune into SVOD daily.

Overall, 64% of all US households claimed to have an SVOD service from Netflix, Amazon Prime, and/or Hulu – up from 47% in 2014.

Among SVOD users, 51% said they subscribe to more than one service, up from 35% in 2014, and 83% said that they have Netflix.

Among non-pay TV households the uptake of SVOD stood at 72%, while 62% of pay TV subscribers said they also pay for a subscription VOD offering.

The research also demonstrated a shift in the way that consumers are watching video content.

Some 43% of adults said they now watch video on ‘non-TV’ devices –computers, mobile phones, iPads and tablets – up from 33% in 2015 and 18% in 2012.

Among mobile phone and tablet viewers, 74% and 87% of adults respectively said that they tune into video on these devices while at home.

“Nearly two-thirds of all households now have an SVOD service, and over half of this group has more than one of the major SVOD services,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group.

“With the increased prevalence of SVOD in consumers’ households, 29% of adults now stream an SVOD service daily, up from 16% just two years ago.”

The findings are taken from an LRG survey of 1,207 US households and are part of a new study called Emerging Video Services XI, its eleventh annual study on this topic.