Two in 10 Millennials in 10 Countries Never Use DVD or Blu-ray, Says Bain
A new "wave" of media content in the form of "unbundled, long- and short-form content streamed at will and monetized through subscriptions, microtransactions and advanced advertising solutions" is overtaking the world, feeding "a new segment of content consumers that cuts…
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across ages," said a Bain & Co. report. "These digital-savvy consumers already outnumber analog diehards, and content formats and business models created for them are quickly gaining momentum." Bain researchers canvassed more than 7,000 consumers in 10 countries in July and found that "all-digital consumption has become pervasive," said the report released Thursday. In developed economies, 63 percent of adults older than 36 watch video online, 93 percent listen to digital music and 34 percent read e-books, it said. The percentages for younger consumers are even higher, it said. "Digital content consumption is now firmly entrenched across age groups." As many as 20 percent of the consumers canvassed in the 15-18 age group "said they never use traditional media" such as a DVD or Blu-ray to watch videos, it said. That’s nearly triple the percentage of respondents over 35 who said the same thing, it said. Additional "stark differences" abound between digital natives and older consumers, said Bain. For example, "younger consumers rely more on their social networks to select media content," it said. "More than two-thirds of respondents aged 15 to 25 in developed countries said they choose video, music and books based on social recommendations, compared with fewer than half of those older than 35" who do so," it said. "Digital natives have spurred the growth of fresher-faced alternatives to YouTube, iTunes and even Facebook for consuming content, even as people over age 35 have embraced these platforms." Younger consumers "also have a different take" on data privacy issues than do their older counterparts, Bain said. In developed countries, nearly six of 10 of those 25 or younger "would forego personalized recommendations to ensure their data remains private, compared with three-quarters of adults older than 35," it said.