Streaming Is Down But It's Still Kicking Butt!

Streaming is rapidly overtaking traditional TV and cable as the preferred way people consume entertainment. With on-demand access to thousands of shows and movies, streaming platforms like Netflix, Hulu, Disney+, and Amazon Prime have made it easier than ever for viewers to watch what they want, when they want, without being tied to a broadcast schedule. The rise of original content on these platforms has also played a major role, as many award-winning series and films are now produced exclusively for streaming services. This shift in content quality and accessibility has led to a major decline in cable subscriptions and a rethinking of how networks and studios distribute their programming.

Traditional cable and TV are struggling to keep up with the flexibility and affordability of streaming. Monthly cable bills are often more expensive and filled with unwanted channels, whereas streaming allows users to pay for only the content they care about. Younger audiences, in particular, are driving this change, with many opting out of cable entirely in favor of watching on their phones, tablets, and smart TVs. As a result, advertisers are also shifting their focus to digital platforms, following the viewers. The convenience, personalization, and growing library of exclusive content continue to push streaming forward as the new standard for television entertainment.

Here are some up-to-date statistics to support the idea that streaming is overtaking regular TV and cable:

Cord-Cutting Surge: As of 2024, over 75 million U.S. households have either cut the cord or never subscribed to traditional cable in the first place, according to eMarketer. That’s over 58% of U.S. households, and the number continues to grow.

Streaming Time vs. Cable: In July 2023, streaming accounted for 38.7% of total TV usage in the U.S., surpassing cable at 29.6% and broadcast TV at 20%, according to Nielsen’s The Gauge report.

Subscriber Growth: Netflix alone had over 270 million global subscribers by mid-2024, and platforms like Disney+ (150M+) and Amazon Prime Video (200M+) continue to gain users, while major cable companies have reported consistent subscriber losses for over 10 consecutive quarters.

Ad Revenue Shift: In 2023, digital video ad spending in the U.S. reached $51 billion, nearly doubling the $26 billion spent on traditional TV ads, signaling that advertisers are following the streaming audience.