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The streaming media device market has existed for only about 15 years, yet in that relatively short time, this device category went from being a potential “game changer” to just another commodified product sitting on consumers’ shelves. Once essential for viewing streaming content on a big screen, it did not take long before consumers were able to stream media on almost any device with an internet connection. Simply put, people no longer need to spend extra money on a dedicated streaming device when their smartphones, computers, video game consoles and TVs can all do the job perfectly well without one.
This report presents the findings of a S&P Global Market Intelligence 451 Research survey, which asked US consumers about their streaming device usage and planned buying.
Key takeaways from the survey
Generation Z, millennials and Generation X are most likely to stream online video. According to the survey, Gen Z (92%), millennials (88%) and Gen X (86%) have the highest number of respondents currently subscribed to at least one paid streaming service, with baby boomers (73%) and the Silent/Greatest Generation (56%) using these services less by comparison. The same is true of free streaming services, where baby boomers and the Silent/Greatest Generation use them at lower rates than Gen Z, millennials and Gen X.
Multifunctional devices are the preferred way to stream online video. Convenience is probably the easiest way to describe consumer preferences for how they stream online video.
While more than three-quarters (79%) of respondents say they use some type of device to stream online video content, it is multifunctional devices in particular that rule the roost. Smartphones (39%), smart TVs (31%), and laptops/desktops (27%) are the most preferred devices for streaming, along with tablets (20%) and video game consoles (11%). Roku (22%) and Amazon Fire TV/Stick (16%) are the only dedicated streaming devices in the double digits.
Age plays a role in device preferences. Smartphones are the top overall streaming device among three of the five generational age brackets, with them being most used by millennials (56%) and Gen Z (57%). These two cohorts are also the top users of laptops/desktops (Gen Z 36%; millennials 32%), tablets (millennials 28%; Gen Z 25%), video game consoles (Gen Z 36%; millennials 25%) and Apple TV (both 14%). Gen X (37%) and baby boomers (31%) use smart TVs the most, while Gen Z (29%) and Gen X (26%) are the top users of Roku. Amazon Fire TV/Stick is most used by millennials (19%) and Gen X (18%).
Consumers use streaming devices daily. When asked how often they use their streaming devices, the largest portion of consumers said at least once daily (57%) or a few times a week (22%). Generally speaking, consumers are engaged with multiple sources of streaming media between paid services, free services, short-form content (under 10 minutes) and long-form content (10 minutes and longer). This creates a dynamic viewing experience that can encompass different types of engagement across devices. Interestingly, Gen Z (84%), millennials (84%) and Gen X (82%) use their devices for streaming with similar levels of frequency, while baby boomers (76%) and the Silent/Greatest Generation (71%) trail a bit behind.
Streaming device purchasing environment remains stagnant. Only 16% of respondents expect to buy a new streaming media device within the next 12 months, unchanged from 2024’s second-quarter survey. Demand is most pronounced among Gen Z (30%) and millennials (30%), although both are down compared with a year ago. One big factor in the stagnant nature of this market is that many of these devices, both dedicated and multifunctional, have elongated replacement cycles.
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