Are millennials disrupting cable?
Insights from Forbes Magazine
" 'Cord-cutting' has become the bane of cable providers' existence, but the fast-changing face of consumer content is signaling dark days ahead for cable, as the option to avoid or drop cable service has grown more appealing and more popular than ever lately," according to Forbes Magazine.
Generational and disruptive trends
In this March 21, 2015, article, “The Millennial Trends That Are Killing Cable,” Forbes Magazine writer Mark Hughes spoke with Deloitte’s Andrew Blau and Rene Waslo. “… In short, the times they are a changin’, and not in cable’s favor,” Hughes writes. “To get a better grasp of just how dramatic all of this news is, and how much it’s changing the landscape of the future of content distribution and consumption, I spoke with Deloitte, who work on—among other things—strategic risk management and who provided data and insights regarding the emerging threats to traditional business models in entertainment, and how the landscape is going to change in the future.
“A major factor in trends is generational differences, which aren’t always obvious when you look at the broad data but which significantly change consumption patterns from one generation to the next.” The article also notes: “It is Millennials who are driving disruptive trends the most, consuming most of their TV and film content online rather than through television or Blu-ray/DVDs. 56% of the TV and film viewing by Millennials aged 14-24 is on computer, smartphone, tablet, or a gaming device—only 44% is via TV. Older Millennials (in the 24-30 age range) consume 47% of their film and TV content on those alternative devices. So on average, the 30-and-under crowd’s primary means of consuming content is through mobile devices, streaming, and online. That’s in sharp contrast to the over-30 crowd who still rely on television for an average of more than 80% of their film and TV show viewing.”
Read the full article, “The Millennial Trends That Are Killing Cable,” on Forbes.com.