The young demographic known as millennials are beginning to consume much of their TV and video watching from smartphones and tablets, according to a report from digital ad firm YuMe and the IPG Media Lab, which says those in the 18-to-24 age group are watching less live TV than ever. About 20% of the survey watch a majority of their video on smartphones and just over 15% on tablets compared to under 10% for live TV. Social viewing is rampant. "Whatever trending video clip is currently making the rounds seems to be the new topic of water-cooler conversation," said IPG's Tim McAtee.

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