Millennials are dropping cable after leaving their parents’ home. The trend appears to be related to lower incomes of younger consumers. A new Nielsen report, (covered by the New York Times, see link below) shows the trend is likely to reverse as these younger consumers start families.
For us, the takeaway is that 1 in 4 consumers ages 18-24 without children are foregoing cable TV. According to the research, these consumers are using an antenna or the internet for TV.
For consumers under the age of 32, at least half of their TV watching is on computers, tablets or smartphones.
Not surprisingly, this growing trend underscores the necessity for advertisers to build their presence in digital media.
The entire text of the NYT article can be found here.