According to a new survey from investment bank Piper Sandler, teenagers in the U.S. claim to watch more videos on YouTube compared to Netflix.
As per the survey, teenagers spend 29.1% of their daily video consumption time on YouTube, a Google-owned platform, surpassing Netflix at 28.7%. YouTube’s usage has grown slightly, while Netflix has experienced a decline.
This data indicates the increasing competition in the streaming business and highlights YouTube’s strong position as a popular free online video provider, especially among young people.
“We are curious as to whether this trend reflects changing consumption habits, with the quality of content on YouTube steadily improving over time and the streaming industry becoming more competitive,” commented Piper Sandler analysts.
Piper Sandler has been conducting biannual surveys of American teenagers since 2001, focusing on their preferences for brands, gadgets, snacks, and restaurants. The latest survey, conducted in September, involved over 9,000 teens with an average age of just under 16 years old.
Investors believe that understanding the spending habits of young people can help identify trends in the wider economy.
In terms of daily video consumption by platform, Netflix and YouTube are the clear leaders, with Hulu in third place with a share of approximately 7%, according to the survey. The analysts also found that Prime Video and Disney+ have gained market share. The survey also indicates a decrease in time spent on cable TV, HBO Max, and Hulu compared to the spring.
It is important to note that the Piper Sandler survey does not directly compare YouTube and Netflix to TikTok. Instead, TikTok is compared to other social media platforms such as Instagram and Snapchat.
The survey reveals that 38% of the teens polled consider TikTok as their favorite social media platform, while Instagram leads in terms of self-reported monthly usage. The Piper Sandler analysts noted that teenagers reported spending about four and a half hours per day on social media, an increase from previous surveys.
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