In a recent shift in the digital entertainment landscape, YouTube has overtaken Netflix as the preferred video source among teenagers. This revelation comes from a survey conducted by Piper Sandler, which delved into the viewing habits and preferences of Generation Z.
Insights on Gen Z’s video consumption
The semi-annual “Taking Stock With Teens” survey by investment bank Piper Sandler, in collaboration with education-focused nonprofit DECA, revealed that YouTube has edged out Netflix in popularity among teens. The comprehensive survey dives deep into teen preferences, capturing 60 million+ data points related to their choices and spending habits.
The fall 2023 edition of the survey, conducted between Sept. 4 and Sept. 27, highlighted several key findings. Among them, teen “self-reported” spending saw a 1% year-over-year decline, marking the first decrease since before the COVID-19 pandemic. Brands like NIKE, e.l.f. Beauty, and Chick-fil-A maintained their top spots in their respective categories. Interestingly, inflation emerged as the second most significant social concern for teens, trailing only environmental issues.
Diving deeper into the digital realm, the iPhone continues its dominance with 87% of teens owning one. In terms of social media platforms, TikTok leads the pack, followed by Snapchat and Instagram.
However, the standout revelation was YouTube’s ascent in the video streaming hierarchy. This change underscores the evolving nature of content consumption among younger audiences and the importance of platforms staying attuned to these shifts.
YouTube’s rise and the streaming landscape
Gen Z’s changing preference toward YouTube signifies a broader trend in content consumption. Despite some regional struggles, Netflix has traditionally dominated the streaming space with its original series and vast library. Additionally, tech giants like Apple have recently made forays into the streaming landscape. However, YouTube’s diverse content, ranging from user-generated videos to professional series, offers a unique appeal to the younger demographic.
Moreover, the platform’s interactive nature, where viewers can engage directly with content creators, might be playing a role in its growing allure. So, as the battle for viewers’ attention intensifies, platforms will need to continuously innovate and adapt to the ever-changing tastes of their audience.