The number of people watching online TV is growing at a very fast rate. Viewers may not be cutting the cable cord altogether, but research shows that more people want to watch their favorite shows through a different set of pipes. Did you know that CBS and HBO are working on creating internet-exclusive productions? Some people have been caught off-guard, and in fact a few industry experts considered online TV a geeky novelty. But it’s not a sidelight to traditional television; it’s just what TV looks like now.
Video streaming services such as Netflix are now used by almost half of American households, and it’s expected to overtake live programming as the method of viewing across millions of homes. About 56% of viewers streaming on Sling or Hulu are watching movies, with popular TV shows coming in a close second- think House of Cards on Netflix.
Youths aged between 14 and 25 prefer online TV streaming services to traditional cable or satellite TV, which makes the majority of online audiences teenagers and young adults. For people in that age group, streaming video is much more valuable than traditional live TV, but older age groups still value pay TV because it has been an integral element of entertainment and news for many years.
Three factors are contributing to this growth; more apps and sites for video content, more productions made exclusive online, and sporting events such as the world cup. Major sporting events act as a form of trial period for viewers, who then go on to migrate entirely to TV streaming services.
According to a survey from Adobe, the average person has progressed from watching just one movie a month to 4.5 movies a month in a period of just one year. Viewing of “episodic TV” has also increased sharply over the past year, and this growth is all the more remarkable because the survey conducted by Adobe didn’t include major services such as Hulu, Amazon Prime, and Netflix.
This means that a large number of people still paying for cable are not watching TV in the traditional sense. For anybody who wants to binge-watch a particular show or just check out older programs, the best option is to use online streaming services. The same goes for watching news and popular shows; portable devices make it easier to watch your favorite programs on-the-go.
Broadcast TV is losing out, and younger viewers are weary of the way traditional broadcast networks go about promoting their shows. For anybody watching TV online or streaming a movie, the options are endless and the industry is just starting to migrate towards online services.