Teens Spend More Than Half Of Their Daily Video Consumption On These Two Apps

Teens spend more than half of their daily video consumption on just two apps, according to data from investment firm Piper Sandler's biannual survey.

What Happened: The survey reveals that American teens are now spending 57.8% of their daily video viewing time on just two apps – Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) YouTube, and Netflix Inc. (NASDAQ:NFLX).

YouTube has also managed to pull ahead of Netflix, with a 29.1% share, while Netflix is a close second at 28.7%.

While YouTube gained a 1 %-point market share, rising from 28.1% since spring, Netflix lost 2.2% points during the same period. Coincidentally, both YouTube and Netflix have increased their subscription prices, but Netflix seems to have declined while YouTube gained.

See Also: 9 In 10 Teens Own And Will Buy An iPhone Next, Even As Android Boss Hiroshi Lockheimer Laments Losing 10% Users To iPhone Every Year

The survey also revealed a decline in time spent on cable TV, HBO Max, and Hulu compared to spring, while Amazon’s Prime Video and Disney+ both saw an increase in timeshare.

Why It Matters: The survey results come at a time when both Netflix and YouTube have hiked their subscription prices.

The price hike announcement by YouTube was made in seven countries, following a similar increase in the US in July.

Netflix also raised its subscription prices for certain streaming plans in the US, UK, and France, coinciding with a surge in new customer sign-ups.

The changing preference among teens could indicate the shifts in the video streaming industry. Netflix' password sharing crackdown is also likely to have played a role in its decline and YouTube's rise.

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