How Can TV Providers Attract Millennials?

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How Can TV Providers Attract Millennials? Tell Them They Can Watch TV Everywhere

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It’s no secret that Millennials (people born between1980 and 2000) are moving away from traditional pay-TV subscriptions.

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Many Millennials are part of the cord-cutting trend, opting to piece their television viewing experience together through over-the-top services, like Netflix.

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Last year, 8.2% of former pay-TV customers ditched their television subscription — an increase of 1.3% year-over-year. Source: DigitalSmiths.

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But a new survey from Altman Vilandrie & Co. and EPIX shows that there may be a way to get Millennials interested in traditional pay-TV again.

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The survey found that when younger Millennials (aged 18-24) knew that they could watch their pay-TV service from their smartphones and tablets…

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… they were 23% less likely to cut the cord, or switch providers. Source: EPIX.

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Being able to watch television programming on any device at any time (known as TV Everywhere) is good at convincing Millennials to sign up for cable as well.

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Among people aged 18 to 24, who don't have a cable subscription, 54% were more likely to sign up if there was a TV Everywhere option. Source: EPIX.

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And 47% of people aged 25 to 34 were more likely to sign up when TV Everywhere was offered. Source: EPIX.

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So if this is true, then why is cord cutting still growing?

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Because about two-thirds of all consumers are unaware of television providers’ TV Everywhere option. Source: EPIX.

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“… providers need to do a much better job of promoting TV Everywhere and driving its usage or risk continued erosion of subscribers, especially millennials." — Jonathan Hurd, Altman Vilandrie & Co. Source: EPIX.

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While TV Everywhere won’t convince all Millennials to sign up for cable or satellite subscription, it appears the option could at least help curb the cord-cutting trend.

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