NEW YORK, March 6, 2014 /PRNewswire/ -- What do millennials want when it comes to online viewing, and what should broadcasters know to improve their chances in this market?
That's the question Verizon Digital Media Services attempted to answer with a two-part research project about the entertainment habits of the millennial generation.
Among the findings:
- Millennials are extremely sensitive to quality and performance. They are quicker than older generations to abandon an entertainment source if the quality is poor, slow-loading, or has other technical problems.
- Millennials are brand loyal, but far less loyal to traditional broadcast networks than non-millennials. In fact, not a single network made the top ten list of brand loyalties for millennials.
- Millennials are more likely to use multiple screens when enjoying entertainment, but less likely to use second and third screens for purposes directly related to what they're watching.
- As an on-demand generation, millennials expect to choose how, what and when they watch.
"Understanding the needs, wants and habits of millennials is critical for success in the digital media industry," said James Segil, chief marketing officer for Verizon Digital Media Services. "The research reflects some interesting findings, and we were pleased to see that millennials share our passion for quality, speed and a superior experience."The first part of the project, completed in November 2013, consisted of surveying 1,000 consumers -- 800 of them aged between 16 and 34 and identified as millennials -- and 200 aged 35 to 64. The second part of the research consisted of in-depth, in-home interviews with eight selected millennials. A key finding is the criticality of incorporating high-quality, high-performance online video as part of broadcasters' distribution model. Companies that fall behind on this front will be at a significant competitive disadvantage among millennials, who expect instant-on, high-quality video regardless of their device or location.