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For the first time ever, Americans are watching more streaming TV than cable, according to a report from Nielsen. The milestone has long been expected as viewers change their viewing habits and ditch their pricey cable bundles for cheaper alternatives.
In July, streaming amounted to 34.8% in the share of total TV consumption, a growth of nearly 23% within the past year. Cable and broadcast viewership both dropped year over year, with the former amounting to 34.4% and the latter making up just 21.6%. Both fell around 10% compared to July 2021.
Nielsen notes streaming has surpassed broadcast before, but its the “first time it has also exceeded cable viewing.” Netflix, Hulu and YouTube also captured record-high shares, with Netflix (NFLX) being the biggest streaming platform thanks to “Stranger Things'” new season.
The report’s findings aren’t surprising, but it is an inflection point for the typical American TV viewer as well as the industry. Entertainment companies are spending…
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