Australian millennials are turning their backs on the big screen in the lounge room, for the first time watching more video on their devices than broadcasts on television.

Australian broadcasters are the masters of burying the lede when it comes to talking about viewing figures, while using myriad different metrics to make it difficult to compare apples with apples.

The most telling statistic in the latest industry report is buried on page 13, where you dive into figures which make it clear that rusted-on seniors are all that's stopping Australia's viewing figures plunging into free fall.

The amount of broadcast television Australians watch continues to fall across the board, but 18-to-24 year-old viewers have passed a major milestone which is likely to spook broadcasters.