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Streaming Is King As TV & Cable Players Lack New Content

For the first time ever, streaming usage has claimed the largest share of Television viewing in the U.S. According to Gauge, Nielsen’s monthly total TV and streaming snapshot, streaming notched up 34.8 % of total TV viewing while cable and broadcast came in at 34.4% and 21.6% respectively. Streaming usage increased 3.2 % in July compared to June 2022. Time spent streaming in July averaged nearly 191 billion minutes per week and each of the five measurement weeks in July 2022 now account for five of the six highest volume streaming weeks on record. Streaming majors, Prime Video, Netflix HULU and YouTube each captured record-high shares again in July after doing so in June. Netflix got the largest share of overall TV viewing with 8 % boosted by the nearly 18 billion viewing minutes of Strange Times alone. Both Cable and Broadcast are losing out for want of new content. Both have lost mainly their sports viewers which has moved to streaming with the major OTT players lapping the digital rights. The same trend is repeating in India and the proof of that is aggressive bidding for sports properties by broadcast and cable players. Reliance Viacom18 walked away with the digital rights for the next four years of IPL paying Rs 237.58 billion. Disney Star paid Rs 235.75 billion for broadcast rights. Clearly, the future is streaming.