Gen Z and Millennials drive higher churn rates for streaming services—and new and original content could be key to keeping them tuned in.

Gen Z and Millennials drive higher churn rates for streaming services—and new and original content could be key to keeping them tuned in. Deloitte’s 16th edition of its Digital Media Trends report found that 52% of Millennials and 51% of Gen Z have either canceled, or both added and canceled, an SVOD service in the last six months—compared to 40% of Gen X and 17% of Baby Boomers. Additionally, the younger gens are more likely to have canceled and then renewed a paid SVOD subscription in the last 12 months. Not only are SVOD companies competing against one another in today’s growing “streaming wars” landscape, they’re also competing with user-generated content (i.e. social media and video / mobile games). Cost, ad-free capability, and original content produced by the streaming service are the top reasons consumers subscribe to a paid SVOD, with 39% of consumers saying they subscribe to watch new and original content while 38% want to watch a broad range of content. YPulse’s media consumption research shows 86% of young consumers are using a streaming service to watch video content weekly or more often—compared to 83% for social media. (Adweek)