TV viewers in the United States are watching streaming services like Netflix and Disney + more than cable TV, according to a report by market measurement firm Nielsen—the first time streaming has overtaken traditional viewing.
For many years analysts and pundits have predicted this moment, a landmark change in the way people are consuming entertainment.Streaming had previously edged ahead of over-the-air broadcast TV, but until now cable has outpaced it.
In July, streaming made up 34.8% of TV viewing in the United States, just ahead of cable TV which accounted for 34.4%. Broadcast was way behind with 21.6%. Audiences in America watched an average of 190.9 billion minutes of streamed content per week in the month, way over the average 169.9 billion minutes watched during the pandemic lockdown of April 2020.
Among those streamers, the most popular platforms were Netflix, at 8%, YouTube at 7.3%, Hulu at 3.6%, Amazon Prime Video at 3%, Disney + at 1.8 percent and HBO Max at 1%.
The study reinforces recent moves from legacy players in the space to launch their own streaming platforms, such as Disney and Paramount. But there have been signs that the incredible growth enjoyed by streaming platforms is starting to slow.
In May, Netflix reported it has lost subscribers for the first time in a decade, HBO Max recently went through a round of layoffs ahead of a merger with Discovery’s streaming app and last week Disney lowered its long-term forecasts for its streaming operation. It remains to be seen how many of these setbacks can be attributed to a wider economic malaise, and which are a result of diminishing enthusiasm for a large number of streaming platforms.