YouTube passes Netflix as top video source for teens – CNBC

Teenagers in the U.S. say they watch more videos on YouTube than Netflix, according to a new survey from investment bank Piper Sandler.Teens polled by the bank said they spent 29.1% of their daily video consumption time on Google-owned YouTube, beating out Netflix for the first time at 28.7%. Time on YouTube rose since the spring, adding nearly a percentage point, while Netflix fell more than two percentage points.The data point shows that the streaming business is getting more competitive, and highlights YouTube’s strong position as a free provider of online video, especially among young people.”We wonder if this is a push or a pull in regards to the changing consumption habits, as content on YouTube appears to be improving over time and the streaming industry becomes more and more competitive,” Piper Sandler analysts wrote.Piper Sandler has published a survey of American teenagers twice a year since 2001, focusing on their favorite brands, gadgets, snacks and restaurants. This fall’s survey polled more than 9,000 teens across the U.S. in September who average just under 16 years old.Some investors believe understanding how young people spend their money can help spot trends in the broader economy.Netflix and YouTube were the two clear
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