YouTube had better keep an eye on OTT services because they’re stealing away more and more of its core millennial audience.
According to the latest State of Online Video Report from Limelight Networks, OTT services are surging in popularity, with seven in 10 consumers currently subscribing to at least one. The most significant growth has been seen in people subscribing to two OTT services, which has increased from 15.53% in December 2015 to 18.78% in June 2016.
But the success of OTT services has come at the expense of YouTube. It’s a shift that, interestingly enough, has been driven by millennials in particular (the report features a special section dedicated to the 18 to 34 crowd), who are increasingly abandoning the video sharing site’s content in favor of the TV shows and movies available on OTT services.