Financial services firm Piper Jaffray recently published its semi-annual report on teens. The report which is called The Piper Jaffray Taking Stock with Teens report looks into teens consumer behaviours. This year’s report revealed that teens are spending more time on YouTube than on Netflix. These results can really affect upcoming streaming services like NBC’s Peacock and Apple’s upcoming streaming service.
About Piper Jaffray Taking Stock with Teens report
The Piper Jaffray Taking Stock with Teens is a semi-annual survey. It gathers inputs from thousands of teens. It looks into their discretionary spending patterns, fashion trends, technology, and brand and media preferences. These things are looked into and are assessed through surveying a geographically diverse subset of high schools across the U.S.
Here’s what this Year’s Report Revealed
This year they surveyed 9,500 teens with an average age of 15.8 years from across 42 states. This what their survey revealed:
- According to the report, 37% of teens’ daily video consumption is spent on YouTube, while 35% of daily video consumption is spent on Netflix. 7% is spent on and 3% on Amazon Prime Video. Based on these results YouTube is the top video platform while Netflix top streaming service about Gen Zers.
- The survey reveals that teens spend 12% of their daily video consumption on cable television.
- It also revealed that Instagram was the platform most frequented by teens, followed by Snapchat. This is the third survey in a row in which Instagram came out on top among Gen Z users.
What This Data Means for Streaming Services and Advertisers
According to the Piper Jaffray report, it is clear that upcoming streaming services have a lot to contend with when it comes to reaching young people. Their competition is not just limited to other streaming services but YouTube is a major competitor for these services. These streaming services will be in competition with user-generated video platforms like YouTube.
The study has also shown that Instagram is the best social media platform for advertisers and brands to reach young people.
To read the full report, click here.