Streamonomics: Gen Z's Impact On The Future of Streaming
A new era of streaming entertainment driven by Gen Z desires and needs
We partnered with Tubi to release "The Stream 2024: Streaming Insights for Marketers", which sheds light on the profound streaming shifts driven by Gen Z and their desire for authenticity, diversity, and a break from the traditional. As we delve into the nuances of these insights, it's evident that streaming isn't just about entertainment; it's a reflection of evolving cultural and societal norms.
Three deep dives: The Stream 2024: Streaming Insights for Marketers
Download Tubi’s full report here
1. The Indie Streaming Revolution: What Gen Z Wants
Young audiences are steering the streaming world from mass culture to subculture fandom and fascination. Seven in ten (71%) of Gen Z and Millennials are actively seeking out content from indie creators, signaling a substantial appetite for innovation outside the traditional studio system.This demand is matched by a strong desire for diversity and representation, with 74% valuing varied narratives in their streaming choices, reflecting not merely a trend but a profound cultural shift towards a more inclusive and varied storytelling ecosystem.
Equally telling, the same percentage—74%—express a preference for original content over remakes, underscoring a collective weariness of recycled narratives and a yearning for fresh, authentic storytelling experiences. This data conveys a decisive move away from cookie-cutter content, advocating for a streaming world that celebrates diversity, champions independent voices, and embraces originality.
What to think about: This overwhelming preference for originality over recycled content, and for diversity over uniformity, isn't merely a trend. It's a profound cultural shift, reflecting a broader disenchantment with mass-produced narratives and a yearning for content that speaks to the unique experiences and values of subcultural communities.
What we are watching as it relates to this shift:
Tubi Is Rewriting the Rules of Black Indie Movies (for Free)
MrBeast Strikes Amazon Deal For Biggest Competition Series in TV History
2. The Future of Sports: Streaming Scores with Gen Z
The traditional sports broadcasting model is undergoing a seismic shift, propelled by Gen Z's embrace of digital streaming. 68% of Gen Z demonstrate a robust preference for streaming sports. The implication for marketers is clear: the future of sports advertising and engagement lies in understanding and leveraging digital platforms.
With a keen interest in platforms offering NFL weekly game previews (45%) and the NBA G League (31%), and 42% dedicating three or more hours weekly to streaming sports, eclipsing those watching on traditional cable and satellite TV (24%). Gen Z's habits are not just changing the game—they're setting a new standard.
What to think about: Embrace the digital shift, understand the nuances of the new sports consumption habits, and craft strategies that meet Gen Z where they are. There's a prime opportunity for deeper, more meaningful engagement through sponsorships, exclusive content, and interactive fan experiences.
What we are watching as it relates to this shift:
3. Balancing Act: Streaming for Connection in an Economic Crunch
Streaming has seamlessly integrated into our daily routines, serving not just as entertainment but as a vital part of our social fabric and self-care practices. Remarkably, 71% of viewers enjoy streaming content with family to strengthen bonds, while 68% find solace in streaming services as a form of personal self-care, highlighting the dual role of streaming in today's society.
However, this widespread embrace of streaming comes at a notable economic cost. With the average American spending over $119.76 monthly on streaming services— a figure comparable to monthly expenditures on gas—economic pressures are prompting a reassessment of how we value and choose our streaming content. This comparison not only underscores the significant financial investment in streaming but also illustrates the evolving consumer priorities in an age where digital content consumption rivals essential household expenses. In response, 58% of viewers are gravitating towards ad-supported streaming options as a financially viable alternative, indicating a shift towards more budget-conscious consumption habits. This trend reflects a broader conversation about affordability, value, and the sustainability of current subscription models, challenging the industry to innovate in ways that align with consumer expectations and economic realities.
What to think about: This juxtaposition of streaming costs with essential expenses like gas signals a critical juncture for marketers. The move towards ad-supported models opens up new avenues for engaging with audiences who are increasingly sensitive to value. Marketers must now craft advertising strategies acknowledging the viewer's heightened awareness of spending, offering content that adds value without detracting from the overall streaming experience.
What we are watching as it relates to this shift:
Shout out to Morgan Rentko and Saskia Gregg for leading this report!
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Penned by Libby Rodney and Abbey Lunney, founders of the Thought Leadership Group at The Harris Poll. To learn more about the Thought Leadership Practice, just contact one of us or find out more here.
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