Streaming Overtakes Customary Television: Redefining How Audiences Watch
In an unprecedented shift in media consumption,streaming services have now surpassed the combined viewership of both broadcast and cable TV. Recent Nielsen data reveals that in May 2024, streaming platforms accounted for 44.8% of all television viewing time, narrowly outpacing broadcast networks at 20.1% and cable channels at 24.1%, which together totaled 44.2%.
The Surge of Streaming Over Recent Years
tracking trends over the past four years shows a remarkable change: streaming viewership has soared by 71%, while traditional broadcast audiences have declined by 21%, and cable viewers dropped by nearly 39%. This dramatic realignment underscores a growing preference for flexible,internet-based entertainment options that cater to on-demand consumption habits.
Key Drivers Behind Streaming’s Explosive Growth
Nielsen identifies three primary catalysts propelling this rise:
- Free Ad-Supported Streaming TV (FAST) Channels: Services such as Pluto TV,The Roku channel,and Tubi have attracted millions seeking no-cost content with broad variety. Collectively, these FAST platforms captured an remarkable 5.7% share of total TV viewing last May-surpassing any individual broadcast network’s audience share.
- YouTube’s Expanding Influence: Excluding YouTube TV’s live offerings, YouTube itself has experienced a staggering increase in watch time-up over 120% sence May 2021-and now commands a substantial portion of screen time with a commanding 12.5% share as of May 2024.
- Mainstream Media’s Digital Integration: Legacy broadcasters are increasingly blending their traditional programming with digital distribution rather than competing head-on against streaming giants; notable examples include simultaneous airing events like Super Bowl LIX on both Fox and Tubi or NBC offering Paris Olympics coverage through Peacock alongside its linear broadcasts.
The Transformation Within Established Media Giants
The pivot toward digital-first strategies is reshaping major media corporations’ structures to better address evolving viewer behaviors.Warner Bros. Discovery is reorganizing into two distinct entities focused separately on studio/streaming operations and global networks-a strategic move aimed at optimizing each division amid shifting market dynamics.
Similarly, comcast plans to spin off much of its NBCUniversal cable assets-including CNBC-into an autonomous company named Versant Communications Group to streamline focus on emerging industry demands driven by changing consumer preferences.
The subscription Video-On-Demand Market: Netflix at the Forefront
Within subscription-based video services emphasizing long-form content accessed via monthly fees rather than ad-supported or free tiers, Netflix continues to lead robustly. Over four years Nielsen reports show Netflix’s viewing share increased approximately 27%, maintaining its position as the top subscription platform during this period despite intensifying competition from newer entrants like Disney+ and Amazon Prime Video.
A Forward Look: What Lies Ahead for Television Viewing?
Nielsen analysts caution that while seasonal sports events such as NFL games can temporarily boost traditional broadcast ratings during peak periods each year, the overarching trajectory favors ongoing growth for streaming platforms. This trend suggests that internet-delivered content will solidify its role as America’s dominant form of television consumption well into the future.
