Alternative TV Requires Alternative Marketing
Ok, ok, TV isn’t dead (we’re not trying to start a riot here!), but if your OTC brand’s target is millennials – the much-documented generation born between 1980 and 2000 – it might actually be time to “cut the cord” with traditional TV advertising. The popularity of Netflix, Amazon Prime, Sling TV and the recent announcement that Apple is planning to launch an online TV service is case in point that traditional TV may, in the not too distant future, become a thing of the past.
A recent survey conducted by Frank N. Magid Associates showed that among 18-to-34 year olds, only 21% see TV as their primary medium for entertainment, down from 40%. This is not to say that millennials aren’t spending hours each day watching TV, just that they, like many other consumers, are moving away from “traditional” television to watching alternative TV.
Not convinced? Consider this: 59% of U.S. households pay for a subscription video-on-demand service, according to the Magid survey. And, as offerings for online subscriptions services grow, with recent entries by Showtime, HBO, ESPN, CBS News and Nickelodeon, at the same time that the cost for cable subscriptions keeps rising, millennials are breaking up with their cable providers – big time. To illustrate how this trend is picking up steam, a growing number of millennials are doing the unthinkable – not having a TV at all, opting instead to view TV content on their digital screens: 68% consume their media on a computer, 29% from a tablet and 31% from a smartphone.