1 big thing: Impatient, distracted consumers upend media landscape

American consumers are increasingly picky, impatient, distracted and demanding — and their media diets are changing so fast that most traditional industries can no longer keep up.

Why it matters: The modern consumer has completely reshaped advertising, content creation and consumption.

The modern consumer has completely reshaped advertising, content creation and consumption. Most media companies, advertising agencies, and telecom companies either didn't see it coming, saw it and ignored it, or acted too late.

At the heart of the on-demand economy is a user that wants choice:

Customers today want to pay for the content we like and nothing else.

want to pay for the content we like and nothing else. We're dropping expensive cable packages with hundreds of channels we don't consume for "skinny bundles" with core channels that are much cheaper. (The average American cable package is roughly $92, while the average streaming package is roughly $40.)

expensive cable packages with hundreds of channels we don't consume for "skinny bundles" with core channels that are much cheaper. (The average American cable package is roughly $92, while the average streaming package is roughly $40.) We want to watch our favorite shows at any time, on any device. We're looking to technology companies to deliver content through apps that we can access at any time on our phone, smart TV or laptop.

We're looking to technology companies to deliver content through apps that we can access at any time on our phone, smart TV or laptop. And we expect these apps to store our information, so we can pick up on a show or series from the exact minute we left off.

This has made users so impatient and distracted that an estimated 177.7 million U.S. adults —or 70.3% of the total population — will regularly use another digital device while watching TV this year, up 5.1% from 2016, per eMarketer.

A majority of people (58%) say also say they browse the internet while watching video programming, per Nielsen.

Distracted consumers no longer tolerate commercials, which is completely upending the advertising industry. We've become accustomed to on-demand viewing where there are no ads, or digital ads that are highly relevant.

Nearly 6% of commercials today are less than 10 seconds long, according to Nielsen's 2017 Commercial & Advertising Update

according to Nielsen's 2017 Commercial & Advertising Update A whopping 67% of TV viewers switch to another channel when a commercial advertisement comes on, per Nielsen.

of TV viewers switch to another channel when a commercial advertisement comes on, per Nielsen. At last week's TV Upfront presentations in New York, nearly every major TV network vowed to shrink commercial time and promised to make their commercials more digital, relevant and targeted.

We have begun to tune out live programming, forcing leagues and entertainment groups to divvy up broadcast rights to social media and streaming companies:

Four years of data from Nielsen's Total Audience Reports show that every age group except those aged 65+ is spending less time — and in the case of younger Americans, far less time — watching television live or via DVR.

of data from Nielsen's Total Audience Reports show that every age group except those aged 65+ is spending less time — and in the case of younger Americans, far less time — watching television live or via DVR. Sports and news are the two genres users still overwhelmingly watch live.

The TV guide no longer cuts it: Users want recommendations and content discovery to be baked into their consumer experience, because there's more good content out there than ever before.

There are roughly 500 scripted TV series today, compared to roughly 200 in 2010, according to FX's annual Networks Research report.

Nearly two-thirds (62%) of consumers agree that they often struggle to find something to watch, despite there being many choices available to them, according to PwC.

Go deeper: The winners and losers of the distracted consumer economy.