The latest report from Nielsen shows the growing change in how consumers are watching their favorite shows. Last quarter, the number of people watching traditional television dipped by 4-percent, but those watching shows through online streaming services skyrocketed by 60-percent. This is in comparison to the same quarter (Q3) last year, and it is anticipated the increase in streaming video adoption will impact traditional TV. This news comes shortly after Netflix’s CEO Reed Hastings predicted that traditional TV will be effectively dead by 2030.
According to the report, Americans watched over 141 hours of traditional television per month during the last quarter, which — while significant — is a 4-percent year-on-year drop. That is contrasted with video streaming numbers, with Americans having watched almost 11 hours per month, a sharp jump over the 7 hours reported last year.
That statistic does not take into account video streaming that takes place on mobile devices, set-top boxes, or gaming consoles, however, which are said to represent a large percentage of viewership. In particular, the 18 to 49 age group showed a decrease of traditional television viewing per day of 3-percent.
As notable is the increase in daily video streaming, with all adults (18+ age group) showing an increase of over 50-percent. In addition to the viewership numbers, Nielsen reports the number of pay-TV subscribers dropped by more than 2.2 million over the same quarter in 2013.
SOURCE: Wall Street Journal