A new survey of 9,000 teenagers across the U.S., conducted by investment bank Piper Sandler, reveals that teenagers watch more YouTube videos than Netflix.
YouTube's vast library of quality, free video content means easier content access, unlike Netflix which is getting more expensive for parents.
According to the survey, teens spend 29.1% of their time on Google's YouTube, only marginally more than Netflix at 28.7.
Piper Sandler analysts commented that this is an indication of how competitive the streaming business has become as YouTube continues to offer free content.
Investors believe understanding teen trends can help to understand the broader economic trends as well.
7% of the teens preferred Hulu. Prime Video and Disney+ also had a small share. Teens are generally spending less time on cable TV, HBO Max, and Hulu.
Compared to the previous two surveys since 2001, teens are currently reported to spend four and a half hours per day on social media.
TikTok is the favorite social media platform for 38% of teens and Instagram leads in self-reported monthly usage.