In July, the screen time of streaming content such as Netflix, Disney + and HBO Max surpassed the hours of watching on cable TV in the United States, marking the first time in history that streaming audiences have surpassed that of TV. via cable in one month.
Overall, streaming services accounted for 34.8% of TV viewing time in the country, versus 34.4% of time on cable TV, according to Nielsen data, via the The Wall Street newspaper.
Compared to the previous year, people spent 23% more time watching streaming content compared to the same period in 2021, while time spent watching cable decreased by 9%, Nielsen data says. This statistic indicates an increase in streaming in the United States and a decline in cable TV.
Netflix executive co-chair Reed Hastings spoke about this market trend last month in a hearing to discuss the company’s earnings. “Streaming works everywhere. Everyone’s coming, “he said.” It’s definitely the end of TV [tradicional] in the next five, 10 years “.
This growth is a good sign for the various companies that have invested heavily in streaming platforms, a booming market. On the other hand, many services are struggling to retain their long-term subscribers, with the churn rate on the rise across the industry. The reason is that many people subscribe to a stream just to see a specific schedule and cancel when it’s done.
Netflix was the most watched platform in July, thanks to the fourth season of “Stranger Things”, according to Nielsen data. Other popular productions during the month were Hulu’s “Only Murders in the Building” (in Brazil on Star +), and Netflix’s “A Fera do Mar”.
Additionally, both Netflix, YouTube, Hulu and Prime Video managed to attract an increase in viewing hours in July, breaking records achieved in June.
The sharp decline in cable TV audience came for a few reasons, in addition to the growth in streaming. Part of that was the lack of new releases, which tend to arrive in September, and also the fact that last year’s Tokyo Olympics boosted TV ratings.
Also, in the Northern Hemisphere summer months, children tend to spend more time streaming content during the school holidays. The reduction of major sporting events at this time of the year also reduces the television audience.
Sports are one of the biggest attractions of cable TV, but streaming is increasingly entering this market lately. Apple TV +, Peacock, Paramount +, and Prime Video have added live sports content to their catalogs, which could be a major blow to cable TV in the long run.
The post Streaming Exceeds Cable TV Audience for the First Time in History first appeared on Olhar Digital.
Source: Olhar Digital
Emily Jhon is a product and service reviewer at Gossipify, known for her honest evaluations and thorough analysis. With a background in marketing and consumer research, she offers valuable insights to readers. She has been writing for Gossipify for several years and has a degree in Marketing and Consumer Research from the University of Oxford.
