According to a survey conducted by Consumer Barometer, YouTube is the preferred destination for around 20% of Millennials. They consider the content on YouTube to be more relevant and interesting, in comparison with that available on TV. The same study also reveals that 4 out of 10 Millennials tune in to YouTube at least once throughout the day. Offering content on various genres, ranging from movies, TV shows, music, sports, education, etc, YouTube has become their go-to destination for entertainment. The rising popularity of YouTube can be attributed to the variety of content available, and social nature of the platform itself. The socially connected generation likes the way YouTube gives them access to available content, allows uploading their own videos, and provides them with an option to share and comment on the videos they like.
With technology leading the fourth industrial revolution and internet penetration growing countrywide, the Indian youth being driven towards online content does not come as any surprise. Be it television or the entertainment available online, Millennials clearly prefer to watch content on the go. Wanting to have control over the content experience, an increasing number of millenials are ditching their televisions, and opting for web-based content instead. The preference for internet content over the content available on television is blurring the boundaries that divide network provision and content availability. This has opened up a plethora of opportunities for network providers to improve the delivery method and the end product too.
Along with the evolution of Millennial consumption behavior with changing technologies, modern network providers are also innovating ways to provide comprehensive services that erase the line between TV and online content for this internet-driven generation. Expecting to stream high-quality content from anywhere, the digital-first generation does not shy away from investing in high-speed internet. This in turn has opened up multiple avenues for revenue generation for various ISPs playing in the market. No wonder, the ISPs are clamouring to offer the best plans at attractive prices backed by speed which enables uninterrupted streaming on Youtube or other subscription-based videos.
Millennials turning towards digital video content over traditional TV offerings are indicative of the variety the generation expects. Undoubtedly, the changing content consumption pattern of millenials is disrupting the way entertainment content has been delivered so far. As more and more millennials rely on YouTube for content, the pressure of delivering high-speed connectivity keeps mounting on ISPs. Slow internet speed is found to be the biggest reason for Millenials' frustration while accessing content online. Pampered with unlimited choice between online access to TV channels, customized web content, high-quality bundles and streaming services, millennials do not want to compromise with their connectivity speed. Aside from speed, the generation also considers integrated streaming and broadband services being provided by the ISPs before making their purchasing decision.
Now, an interesting thing to watch amid the transforming content delivery model would be the survival story of cable operators as well as Internet Service Providers in an era dominated by digital content. As per the current scenario, only those who adapt, react, and prepare for these changes will survive.
ACT Fibernet, for example, has Netflix, Zee5 and HOOQ as partners, which gives users the reassurance that they are indeed capable of handling and delivering superior quality output with regard to these platforms. Furthermore, their "integrated streaming and broadband services" allows for all subscription like the channels mentioned above. If these channel subscriptions are opted via ACT, they will be a part of customers' consolidated broadband bill, along with special offers that give them further discounts on said subscriptions. Other ISPs are also tying up with various streaming services to keep their customers engaged.
