Young people are wedded to their mobile phones, and as a new survey from Deloitte shows, value their mobile data plans more than their pay TV services. Consumers were asked to identify which 3 services they value the most among those their household purchases. While home internet access was valued by most respondents across all generations, trailing Millennials (14-23) were 14% more likely to cite their mobile internet/data plan than their pay TV service (49% vs. 43%), and leading Millennials (24-29) were 20% more likely to do so (54% vs. 45%).
Among all respondents (aged 14 and up), pay TV was ranked in the top 3 most-valued household services by 58%, compared to 34% for mobile internet/data plan. But that discrepancy mostly owes to the responses of Boomers (47-65) and Matures (66+), among whom less than one-quarter indicated mobile data plans to be a top-3 valued service.
The researchers find that Americans are increasingly willing to pay more for faster internet speeds, although the study doesn’t specify just how much more they would pay. Still, 59% overall (including 68% of trailing Millennials and 73% of leading Millennials) would pay more money for faster internet, and that’s up from 54% in 2011, 51% in 2010 and 49% in 2009.
Faster internet speeds would spur more online video consumption for many, too. 56% of respondents – rising to 74% among both groups of Millennials – said they would view more videos from the internet if their connection speed were faster, and downloads finished faster. The percentage agreeing with this has risen each year of the Deloitte survey, from 39% in 2008.
Not surprisingly, given their reliance on their devices, smartphone and tablet owners are more likely than the average respondent to be willing to pay more for faster internet (70% among tablet owners and 67% among smartphone owners). That aligns with new research from the NPD Group, showing that faster network speed is the leading reason smartphone buyers will consider purchasing from another carrier.
About the Data: The Deloitte survey was fielded by an independent research firm from 11/8/2012 to 11/21/2012, employing an online methodology among 2,129 US consumers. All data is weighted back to the most recent census data to give a representative view of what U.S. consumers are doing.