August 25, 2023

Streaming Ahead: Exciting Future of Digital Content

Trend Analysis
Szymon Karbowski
Streaming Ahead: Exciting Future of Digital Content

According to the Nielsen report, linear and cable TV reached a record low share of total viewing in July (together only 49.6% - less than half of the TV market share).

Broadcast television was only watched by 20% of the viewing population and cable was watched by 29.6%. ​​On the other hand, the streaming platforms have something to celebrate, as together they accounted for more than 38.7% of the total audience.

Compared to the same period last year, viewing figures have fallen: TV viewing fell by almost 5.4% and cable viewing by as much as 12.5%. Some streaming platforms, notably the most popular YouTube (9.2% market share), Netflix (8.5% market share), Amazon Prime Video (3.4% market share), broke their personal all-time viewing records in July.

We all know that we spend less time in front of the TV during the holidays than at other times of the year. Televisions do not show hit programmes during this period (we are more likely to see reruns). Among linear TV services, the most watched programmes in July were movies, sports events, live music concerts, news and weather (although the latter attracts fewer viewers than in the past). It was the lack of new programmes on offer on TV that helped streaming to set new records for the month of July.

It immediately begs the question of where else are these record increases on streaming platforms coming from if less original content is currently being produced on them? ​​Among the original productions on streaming platforms in July were: ‘The Witcher’ and ‘The Lincoln Lawyer’ on Netflix, ‘Jack Rayan’ on Prime Video and ‘The Bear’ on Hulu. In the summary of its report, Nielsen rightly points out that it was Netflix and Peacock's acquisition of the acclaimed legal drama 'Suits' (starring Meghan Markle) and the Australian animation 'Bluey' on Disney + that increased the streaming platforms' share of total viewers. The series and cartoon together generated 23 billion minutes of viewing, with ‘Suits’ alone generating 18 billion minutes, a new record for an acquired series.

In my opinion, the findings of this report and the issues it discusses could be a 'breakthrough' for the streaming industry as a whole and for viewers still looking for blockbuster news. Because of strikes and market turbulence, there will be far fewer original novelties. This could be an opportunity for linear and cable TV, but will they be able to win back the viewers? The July ratings for Suits clearly showed the preferences of viewers: "that sometimes it is better to re-watch old but proven hits". I also wonder if the streaming platforms, which have recently increased their subscription prices, will be able to maintain the audience figures they achieved in July? This will become clear in the autumn.

#SzymonKarbowski #StreamVX #streaming #media #TV

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