When HBO announced its standalone streaming service HBO Now in March, it was a definite sign that the TV landscape had changed for good. When even the world’s arguably most famous and successful Pay TV service can no longer afford to turn its back on streaming, it’s a clear indication of what the future of television will look like.
A recent poll conducted by Deloitte among 2,000+ U.S. consumers gives us an idea why HBO decided to enter the streaming market after all: while mature Americans still rely on traditional Pay TV subscriptions, younger Americans, Millennials in particular, favor streaming services over traditional Pay TV. Asked which of the services they subscribe to are the three most important ones to them, 72 percent of those aged 14-25 named a video streaming service while only 58 percent included a Pay TV subscription in their Top 3.
In general, the poll reveals a sizeable generational gap in media preferences, as illustrated in today’s chart.