The results from a survey conducted by the investment bank Piper Jaffray revealed that teens and young adults are 12 times more likely to use Netflix than the other popular media streaming services including Hulu and Amazon Prime.
We Watch A lot of TV
Interestingly, the results showed that 37% of teens used Netflix daily, compared to a minuscule 3% that enjoy using Amazon Prime and Hulu.
As far as general video consumption goes, Netflix continues to dominate the traditional television market followed by YouTube while cable continues to spiral down.
Daily YouTube consumption jumped to 26% with a 3-point leap compared to the results from 2015.
What Makes Netflix So Special?
Besides the attractive price of just $9.99/month (Rs. 500), Netflix continues to make use Big Data and knows just exactly what its demographic wants. It’s a hell of a bargain for awesome shows like Stranger Things, Narcos, Trailer Park Boys, and more recently from the Marvel Cinematic Universe: Luke Cage!
I think part of the reason why Netflix has been so successful is that they understand the “pull method” where the content is developed based on what consumers want rather than the old “push method” where TV networks simply create shows to fill up their time slots.
A Game Changer
It’s incredible to think that a whole generation is growing up without ever having to sit through stupid commercials. No ads, easy to use, great interface, and works on any device. I mean think about it, why should you get ads when you pay for a service?
Maybe I am just biased since I use Netflix all the time (actually I am smooching it off my sister so let’s just keep this between us) but being able to binge through my favorite shows and movie anytime makes it better than what TV ever could. It’s a godsend for parents. It offers great selection for kids and the user profiles makes management a breeze.
Great quality content + Flexibility+ Speedy delivery + Justified costs = One hell of a product.
Not to mention, Netflix and Chill is just so much better than Amazon Prime and Sexy Time ;)
Endnote: Since this new trend of shifting away from traditional TV watching and turning towards Netflix and all is more a millennials thing, why don’t you all check out our series, where we decoded the millennials.
Views presented in the article are those of the author and not of ED.