Streaming Surges to All-Time High, Overtaking Traditional TV in Record-Breaking Month
Streaming platforms have achieved a significant milestone by surpassing traditional television in terms of viewership, reaching an all-time high in July. According to the latest report, modern over-the-top (OTT) platforms accounted for 38.7% of total TV usage during the month, while acquired titles outperformed new originals in the United States.
Data from Nielsen reveals that the soaring popularity of streaming services propelled their share of TV to a new record. Leading platforms such as Amazon Prime Video, Netflix, and YouTube all experienced unprecedented levels of viewership. In contrast, traditional broadcast viewing decreased by 3.6% and settled at just 20% of TV usage, marking a new low. Cable viewing also slipped, capturing 29.6% of TV in July, a full percentage point decline.
This shift signifies a significant transition in the entertainment landscape, with linear TV now accounting for less than 50% of total TV usage. While overall TV usage showed a marginal increase of 0.2% compared to the previous month, viewership among individuals under the age of 18 witnessed a notable 4% rise, while adults aged 18 and older saw a minimal 0.3% decrease.
As a result of these trends, streaming and other forms of media consumption, primarily driven by video game consoles, experienced a surge in usage. However, it should be noted that sports content on broadcast channels amassed nearly 25 billion viewing minutes in July across various channels in the US.
With the autumn season approaching, TV viewing habits are expected to undergo a seasonal shift, especially with the highly anticipated start of the new NFL season. However, the report highlights the unique situation faced by traditional broadcast and cable networks due to the potential decrease in new original primetime content. Nevertheless, the success of acquired programming on streaming platforms emphasizes the strength and appeal of quality content, regardless of its creation date.
In November 2022, for example, sports content accounted for a staggering 150 billion viewing minutes on broadcast channels. This statistic underscores the enduring popularity of live sports events and their significant draw for audiences.
The potential for less new original primetime content this fall presents a unique situation for broadcast and cable, but the recent success of acquired programming on streaming channels highlights the outsized strength of quality content, regardless of when it was created, the report stated.
The current landscape showcases the increasing dominance of streaming services as they continue to attract a growing number of viewers. The allure of on-demand content, convenience, and a wide range of options offered by platforms such as Amazon Prime Video, Netflix, and YouTube has propelled streaming to new heights, solidifying its status as the preferred choice for entertainment consumption.
The findings indicate that the traditional television landscape is rapidly evolving, with streaming services capturing the attention of viewers across various demographics. Streaming’s ability to offer a vast catalogue of acquired and original content has emerged as a compelling alternative to linear TV, attracting audiences of all ages.
As we enter the next phase of the streaming era, it will be fascinating to observe how the market adapts to the changing preferences of viewers. The competition between streaming platforms and traditional TV networks is intensifying, prompting both sides to deliver captivating content that captivates audiences and engages them in meaningful ways.
Overall, with the continuous surge in streaming viewership, it is evident that traditional television faces an uphill battle to retain its dominance in the ever-evolving entertainment landscape. Streaming platforms have undeniably emerged as a force to be reckoned with, revolutionizing the way we consume television content and reshaping the industry as a whole.
