Video: Survey Says: How Consumers Are Using Video in 2019
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Read the complete transcript of this clip:
Jonathan Hurd: One of the things that I'm going to do here is show some example findings from an annual consumer video survey that we do. We use research as a means to an end as part of strategy projects, designing video services. So what combinations of programming, what price point will appeal to consumers, and in the course of doing that work, we uncover findings that we use in our projects with clients or in situations like this where we're talking about industry trends.
With this Annual Consumer Video Survey and other custom surveys we do for clients, we cover a lot of territory about how consumers use video. And you can see all of the various topics. This is a 5,000 to 10,000 some years panel that we use to understand what consumers are interested in, what they're willing to pay for. And we do some cool stuff like a conjoined analysis that quantifies how many people will adopt different services when they're in competition with each other. So new SVOD service is getting launched. How many people are going to adopt those services? Or how many people will adopt virtual MVPD offers? And panelists, for your benefit, I'll sort of give, although you've seen these slides. We've talked about these before. But this is the slide: Which form of video are you more likely to turn to when you don't have a plan for what you're going to watch? You could see how much it varies by age range. Younger consumers go to internet-based video services, and older consumers tend to go to traditional paid TV services. And this is something that's been changing over time, even these older consumers had, their use of online has grown even though it's only 24% of them saying that they would turn to online video services. But it shows you, first of all, how different consumer behavior is by age range. Second, how much of an impact online video services have had and are having on what consumers decide to watch. And then how do consumers learn about new shows? Here, there's also an age-related difference, to a certain extent, when you get to the video services recommendations. For example, Netflix recommendations. Whereas word of mouth are pretty high for both younger and older consumers. Or looking at what's on live programming. And then one of the things that we did was ask the survey respondents about their, effectively, willingness to pay for 235 individual programs as well as sports and news. And what we find, every year when we ask similar questions, is that younger consumers have much broader interests than older consumers. Of the 235 programs, a little over half of them were must have or somewhat interested for 18-to-24 year-olds. For the 55-plus it was only 55 programs that they had any interest in and only 16 must-haves. And you'll see coming up how dense the interest levels are of those older consumers.
So the theme that you're seeing here is that when you're designing a video service or thinking about what combination of programming, it's really important to understand who your target consumer is. And because the behaviors are very different by age and other factors.
Just to show this is a very dense slide. This is all 235 programs. And the percent of people that said they must have them. Those dark blue bars in the upper left are news and weather. And then you can see a few sports, the green is sports. There's one show, that blue, it's Big Bang Theory, amazingly. That's like number four on the list. And then the red are SVOD services. And so across everybody this is the percent that said they must have these shows.
Age is very important in understanding who your target consumer is. Look how different the 18-to-24 year-olds versus 25-to-34 versus 35-plus. 35-plus has local and national news at the top, has sports at the top. Whereas, the 18-to-24, the news and weather aren't even in the top 30 for them.
But SVOD programs, Stranger Things is number one. By the way, this was done last summer. It could be a bit different now. And it will be when we do it this summer. In 25-to-34 year-olds you could see news about halfway down. So the interests of consumers very different by age. And so it's very hard to design a service that will appeal to everyone.
So you have to know who your target consumer is. And then even men and women in the same household have very different interests. The highlighted ones, I should have mentioned, are ones that don't appear in the other column.
About half of the top 30 programs are different across men and women. And very stereotypically the men's sports tend to be among the top interest level, and for women sports, there's NFL on there a bit further down, but you could see the SVOD services and various programs near the top.
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