Television is undergoing a historical transformation due to its convergence with the Internet and the disruptiveness of technological innovation. Methods. This article analyses the evolution of linear television consumption by the so-called millennial generation, in comparison to the general audience, and how it is affected by online viewing. This research also addresses millennials’ audience profile and affinity in relation to the main commercial television channels in Spain. To this end, quantitative and qualitative instruments are used: Kantar Media viewership data and an original online survey about audiovisual consumption habits applied to a representative sample of Spanish Internet users and, on the other hand, semi-structured interviews with the digital strategists of the major private television companies and a multichannel network. Results and conclusions. The results confirm the leak of young audiences –and the associated revenues– and their move towards more personalised and interactive audiovisual entertainment services. In response to this, television operators are implementing new multi-platform strategies that affect their core business and even their own identity.