Streaming Overtakes Traditional TV in the Battle for the Viewing Throne
Traditional television is on the decline, and streaming services are taking over the top spot for viewership. According to Nielsen’s latest report for the month of May, streaming has surpassed both cable and broadcasting combined, making up 44.8% of total TV viewership. This is the first time streaming has outperformed traditional TV, but it’s a trend that has been building since May 2021.
Over the past four years, streaming viewership has increased by a whopping 71%, while broadcasting has seen a decline of 21% and cable has dropped by 39%. Netflix has been at the forefront of this streaming revolution, leading the pack as the top streaming video on-demand platform. Nielsen even came up with a term for Netflix’s success in making licensed content even bigger – they call it the “Netflix Effect.”
The original platforms measured by Nielsen included Netflix, Hulu, YouTube, Prime Video, and Disney+, but now there are a total of 11 platforms included in the report. Despite the growing competition, Netflix has maintained its dominance as the top streaming provider for four consecutive years.
One interesting example of the “Netflix Effect” is the show “You,” which initially aired on Lifetime before moving to Netflix. The show garnered a massive four billion minutes of watch time, showcasing the impact of streaming platforms on content consumption.
Free services like YouTube have also seen significant growth, with a 120% increase in viewership since 2021. And while streaming platforms are thriving, Nielsen highlights the success of simulcasts, where shows are broadcast across multiple platforms simultaneously. One notable example is Super Bowl LIX, which aired on both FOX and Tubi.
Nielsen predicts that this trend of streaming dominance will continue through the summer, culminating in the return of the football season in the fall. So, if you’re a fan of streaming entertainment, it looks like there’s plenty to be excited about in the coming months.
