Deloitte forecasts that the 83 million 18- to 34-year-old consumers in North America will spend about $62 billion on media consumption in 2015, an average of $750 per person. Roughly 80 percent of millennials are projected to spend an average of $80 per month on pay TV, with another $40 per year for streaming video services such as Netflix or Amazon Prime. The same demographic is likely to spend about $100 on concerts and $25 a year on music downloads and streaming services, according to Deloitte. Continue reading Research Points to Millennials Spending $62 Billion on Media

During a press event at CES, Dish Network announced its new subscription streaming service, Sling TV, which is slated to debut in the first quarter of 2015. According to Dish President and CEO Joe Clayton, the $20/per month OTT service will offer 25-30 channels from Disney, ESPN, Scripps Networks Interactive and Turner Broadcasting, in addition to exclusive content from YouTube and Maker Studios. The bundle is targeting millennials who might not otherwise subscribe to a cable or satellite pay TV service. Continue reading Dish Network Unveils Over-the-Top Sling TV Service at CES

Theater chain AMC has partnered with MoviePass, a company that charges moviegoers a subscription fee to attend movie screenings at participating theaters (up to one film per day for a monthly fee). Subscribers will have the option to pay $35 for standard screenings or a $45 premium fee for access to IMAX and 3D features. AMC announced the partnership with MoviePass shortly after reports from Nielsen showed that attendance for young moviegoers continued to drop this year.  Continue reading AMC Teams with MoviePass to Get Millennials Back in Theaters

Nielsen’s 2014 report for movie theater attendance shows that moviegoers aged 12-24 are making fewer trips to the theater compared to previous years. This year’s summer box office was reportedly the weakest of any summer for the past eight years. Nielsen’s numbers also reveal that streaming movies and TV shows has become the preferred alternative for Hollywood’s most coveted demographic. Americans 12-24 told Nielsen they saw 15 percent fewer films in theaters compared to 2013. Continue reading Nielsen: Streaming Impacts Theater Attendance Among Digitals

StoryTech Managing Partner Lori Schwartz moderated a CES 2015 webcast “Know Before You Go” on December 3rd. Industry experts discussed key trends they expect to see at January’s International CES in Las Vegas — from emerging areas such as immersive gaming, virtual reality and wearables to the infrastructure, platforms, and applications of a variety of compelling new products. Topics of the webcast centered on digital disruption, personalization, Big Data, the Internet of Things, and much more. Continue reading Know Before You Go: StoryTech Offers Preview of CES 2015

Streaming video service Netflix saw U.S. viewership of its original series jump from 57 percent of domestic subscribers in the first quarter to 72 percent in the third quarter. New shows and word-of-mouth likely helped spark interest in Netflix originals like “Orange Is the New Black.” Now, amid growing competition, Netflix hopes to replicate that success overseas with its upcoming high-budget original series, “Marco Polo,” which is set to make its international debut in December. Continue reading Netflix is Hoping to Take its Original Series Success Abroad

In order to create and distribute new original music programming, Live Nation Entertainment has launched a joint venture with Vice. Live Nation is a concert promoter, while Vice is a media producer that primarily targets younger audiences. Planning to launch in early 2015, the digital network will target millennials on the Internet, on mobile devices, through television, and in theaters. Hundreds of hours of music shows and editorial content will be featured with an emphasis on live music. Continue reading Live Nation Teams Up with Vice to Launch New Digital Network

While Netflix has become the largest standalone subscription programming service in the U.S., and the leading brand among millennials, the company attracted a disappointing number of new users during the third quarter, resulting in a 26.4 percent drop in its stock value yesterday. Netflix added 980,000 customers for the quarter, down from 1.3 million for the same period last year. The disappointing results were intensified by HBO’s announcement that it plans to offer a competing service next year. Continue reading Netflix Shares Take a Hit After Disappointing Third Quarter

During his keynote address at international television market MIPCOM on Monday, Maker Studios CEO Ynon Kreiz suggested that the future of TV would be short-form content. Kreiz believes that linear television is over for the 12-to-24-year-olds of the millennial generation, a valuable group to the advertising industry. He said that Maker Studios is ideally positioned to leverage this demographic with its user-generated, short-form video content since two-thirds of its 550 million users are millennials. Continue reading MIPCOM: Maker Studios CEO Discusses Shift to Short Videos

According to a new study by Viacom, devices that enable consumers to watch television content on multiple screens is leading to increased network loyalty and an audience preference for live viewing. “Getting With the Program: TV’s Funnels, Paths and Hurdles” notes that 78 percent of viewers polled indicated they would not have become fans of some shows if they were not able to watch them on multiple screens. The study also found that multiplatform viewers are more committed to viewing shows live and watching multiple networks. Continue reading Viacom Study: Multi-Screen Viewing Promotes Network Loyalty

Millennials have more smartphones than any other age group in the U.S., currently at 85 percent. Statistics show that nearly 43 percent of these users opt for iPhones while 52 percent prefer Android devices. The choice to use Android is based on cost rather than software or hardware. Millennials spend 37 hours per month on their phones, most commonly engaged with social networking, entertainment and messaging. Users 25 to 44 use the most apps, an important statistic for developers. Continue reading Millennials Represent the Largest Number of Smartphone Users

Mental Floss — a quirky magazine focusing on knowledge and trivia — has become an unlikely online video success story by deploying author and YouTube star John Green. Before writing “The Fault in Our Stars” and other acclaimed novels, the author worked for the magazine. A year ago, Green started “The List Show,” a weekly YouTube post for Mental Floss. His short segments reach millennials, boosting views to 81 million since February 2013, easily beating most magazine video competition. Continue reading John Green Helps Mental Floss Succeed with Magazine Videos

Snapchat is expecting a $10 billion investment from VC firm Kleiner Perkins Caufield & Byers. Even though the startup does not have a clear business model, its valuation has increased dramatically from last year’s $2 billion. The investment could help Snapchat advance into the advertising world, a move that is expected this year. Snapchat, which is the third-most used app among millennials, may become a viable platform for generating revenue from the age group through advertising. Continue reading Advertising May Result From $10 Billion Snapchat Investment

According to comScore research, Snapchat is now the third most popular social app among the millennial demographic (18-34 year olds). With 32.9 percent penetration on mobile phones, Snapchat trails only Facebook and Instagram. Jumping from 12.1 percent back in November 2013, the app is now more popular with millennials than Twitter, Pinterest, Vine, Google+ or Tumblr. The shift is important considering that this age group is the most active of mobile social networkers. Continue reading Snapchat Now Third Most Popular Social App with Millennials

Netflix, which recently reached 50 million streaming customers, now generates more revenue from subscriptions ($1.146 billion) than HBO. According to Netflix CEO Reed Hastings, edging past HBO’s $1.141 billion is a “minor milestone.” SNL Kagan estimates that HBO has 28.7 million U.S. subscribers. However, HBO remains much more profitable than Netflix. In related news, Time Warner Chairman Jeff Bewkes told analysts this week he is open to OTT services. Continue reading Netflix Has More Subscribers, But HBO Remains More Profitable