Published:
20 Apr 2021 12:29 GMT
While directors and producers hope that young people will change their habits and eventually become like their parents, Deloitte researchers say this is unlikely.
A study by consulting firm Deloitte that analyzes the generational gap in the context of home entertainment showed that for the “Generation Z” (those born between 1997 and 2007), videos, whether they are movies or television shows, are not a priority. free time.
According to the study, which involved more than 2,000 online consumers in February, 26% of respondents said video games were their favorite activity, while 12% said they preferred to surf the internet and 11% of those surveyed online. respondents spent their free time communicating on social media. Only 10 percent said they preferred to watch a movie or TV show at home.
At the same time, 18% of Generation Y participants (those born between 1983 and 1996) chose to watch movies and TV shows as their favorite entertainment. Video games have been the preferred option for 16% of millennia.
According to Jana Arbanas, vice president and leader in telecommunications, media and entertainment in the US at Deloitte, if the preferences of the “generation Z” for video games, music and social networks are maintained, the video will become less important for consumers.
That could get Hollywood in trouble, which is already facing stiff competition from video games and social networks such as TikTok and Snapchat. While directors and producers hope that teenagers will change their habits and eventually become like their parents, Deloitte researchers say this will not happen.
The study also addresses the abandonment of the streaming services market. With the launch of more streaming services and the financial problems of large sections of the population as a result of the coronavirus crisis, citizens are changing their subscriptions much more often than a year ago. According to the study, 22 percent of the respondents added subscription services since the beginning of the pandemic, 33 percent video subscriptions added and canceled and only 3 percent they only canceled services.
The main reason for such changes is the increase in prices, and almost half of those surveyed said they would cancel the subscription due to rising costs. All of this is related to the fact that many streaming services, including Disney + and Netflix, have applied small price increases to increase revenue per user, a key factor in determining a streamer’s success.
At the same time, content is yet another important factor in unsubscribing, with 31% saying they would be more likely to leave a platform if the shows and movies they like were removed. This problem is becoming more common as studios take their shows from rival streaming companies to increase their direct operations to consumers.