Consumers Using Paid Streaming Services More as a Result of COVID-19; Trend May Be Here to Stay

TransUnion survey highlights consumer media consumption and generational differences

CHICAGO, June 09, 2020 (GLOBE NEWSWIRE) -- COVID-19 has brought on many changes in the way people consume media with more than half of Americans (56%) saying they are using paid streaming services at a higher rate today than before the pandemic. As shelter-in-place mandates begin to lift, a new TransUnion (NYSE: TRU) survey found that these new media consumption behaviors will likely continue with 45% of consumers saying they will make paid streaming services a permanent part of life moving forward.

As consumers’ use of paid streaming services (including platforms such as Amazon Prime, Hulu, Netflix and Apple TV) has increased, so too has the amount of time they are using them. Consumers said their usage increased from 1–2 hours per day prior to the pandemic to an average of 3–4 as of the week of May 18^th. More than one-third of consumers surveyed spent at least five hours daily with streamed media. This was most prominent for consumers in the 18-29 year-old age group as 66% of these respondents indicated an increase of daily viewing.

“The use of digital platforms has accelerated as younger generations seek more control and flexibility over how they consume content,” said Matt Spiegel, executive vice president and head of the media vertical at TransUnion. “In today’s global, tech-driven economy, this consumption is occurring across multiple channels and devices as consumers shift away from traditional cable and broadcast. To account for this profound shift in consumption behaviors, advertisers need greater insight into the people behind the devices to gain a more holistic picture of the connected consumer.”

Consumers are not only streaming more content, but also subscribing to more platforms since the onset of the pandemic. The percentage of consumers subscribed to 3–5 streaming services increased to 48%, up from 37% prior to COVID-19. Furthermore, the cord-cutting trend continues to gain a foothold in the media ecosystem with 53% of consumers indicating they use a subscription streaming service in place of a traditional cable TV package. The generational divide regarding this trend was most evident among younger consumers as they were most likely to belong to the cord-cutting group.