Over 50% of Americans now watch content online, according to SEMrush. The rise of streaming video platforms such as Netflix and Amazon Prime has given people access to a far greater amount of content at a much lower cost than traditional cable TV services. The average cable subscriber pays approximately $100 per month, while the average cost of a streaming service is $10-15 per month. Traditional networks, such as NBC, have responded by launching streaming alternatives: mid-2020 had more than 120 such services available.
Streaming Takes the Lead: Over 50% of Americans Now Watch Content Online
Streaming has taken the world by storm, revolutionizing the way we consume media. With the advent of Netflix in 1997, the world of streaming has never been the same since. While it may have taken a few years for the streaming trend to pick up momentum, eventually it became the norm, with over 50% of Americans now watching content online.
The Rise of Streaming
Streaming, of course, began with music, with platforms like Spotify and Apple Music dominating the market. Soon, however, video streaming became the norm, with services like Hulu, Amazon Prime and Netflix dominating the industry. Netflix, in particular, revolutionized the industry, offering a vast array of binge-worthy content, from original series and documentaries, to old TV shows and movies. It’s no wonder their subscriber base has now exceeded 200 million.
Streaming offers a plethora of advantages over traditional cable television: cost, variety, and convenience being just a few. With the average cable subscriber paying approximately $100 per month, streaming offers an affordable alternative, especially when it comes to cord-cutting. Not to mention, streaming offers a vast array of content, in comparison to the limited options available through cable. Additionally, with the ability to stream content from anywhere, at any time, the convenience factor can’t be beat.
What Does This Mean for Traditional Television?
The rise of streaming has undoubtedly had a major impact on the traditional television industry. Cable companies are now struggling to retain subscribers and earn a profit, as streaming continues to dominate the market.
Interestingly enough, traditional networks are beginning to take notice and are offering their own streaming alternatives in an effort to compete with the likes of Netflix and Amazon Prime. For example, NBC recently launched Peacock, which offers a variety of content, from original shows to classic movies, all with the convenience of streaming.
The Future of Streaming
As we take a look into the future, the streaming industry only seems to be gaining momentum. With the recent launch of Disney+ and the upcoming Warner Bros. streaming service, HBO Max, it’s clear that major players in the entertainment industry are seeing the benefits of streaming and are investing significant resources into this medium. It’s clear that streaming won’t be going anywhere anytime soon, and instead will continue to dominate the market.
Q: Can I stream live television through streaming services?
A: Yes, many streaming services offer live television, such as Hulu + Live TV and Sling TV.
Q: Do I need a specific device to stream?
A: No, you can stream content from a variety of devices, including smartphones, tablets, laptops, and smart TVs.
Q: Is streaming better than traditional cable?
A: That depends on your needs and preferences. Streaming is typically more affordable and offers more content options, but may not have access to certain live channels. Traditional cable may have a higher cost but may offer more niche channels and live sports coverage.
Q: Can I still watch local news if I stream?
A: It depends on the streaming service you choose. Some offer access to local news channels, while others do not. It’s important to research and compare the offerings of different streaming services before making a decision.