GITNUX MARKETDATA REPORT 2024

Must-Know Streaming Vs Cable Statistics [Current Data]

With sources from: morningconsult.com, leichtmanresearch.com, conviva.com, about.netflix.com and many more

In this post, we present an insightful collection of statistics highlighting the ongoing shift from traditional cable TV to streaming services in the entertainment landscape. The data reveals the significant impact streaming platforms such as Netflix, Disney+, and Amazon Prime have had on consumer behavior and the evolving media consumption patterns in the U.S. and worldwide. Let’s dive into the numbers and trends shaping the future of television viewing habits.

Statistic 1

"A study found that most streaming service users (55%) had three or more subscriptions. [Source: Deloitte]"

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Statistic 2

"82% of U.S. households subscribe to at least one paid streaming video service in 2020. [Source: Leichtman Research Group]"

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Statistic 3

"Millennials are 44 percent more likely to remove cable tv subscriptions. [Source: Forbes]"

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Statistic 4

"Netflix, a prominent video streaming platform, reached over 200 million paid subscribers worldwide in 2020. [Source: Statista]"

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Statistic 5

"Amazon reported that their streaming service, Amazon Prime, had over 200 million subscribers worldwide in 2021. [Source: The Verge]"

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Statistic 6

"Nearly 8 out of 10 consumers in the U.S. currently subscribe to at least one paid streaming video service. [Source: Deloitte]"

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Statistic 7

"Over 76% of U.S. homes with broadband internet have at least one over-the-top (OTT) streaming service. [Source: Parks Associates]"

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Statistic 8

"The average U.S. household spent $97 per month on cable TV in 2020. [Source: Decision Data]"

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Statistic 9

"Disney’s streaming service, Disney+, reached 116 million subscribers within two years of launching. [Source: CNBC]"

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Statistic 10

"Hulu reached over 41.6 million U.S. subscribers in 2021. [Source: Walt Disney Co]"

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Statistic 11

"Traditional pay-TV penetration in U.S. TV households fell to 60% in 2020, down from over 81% in 2014. [Source: Hollywood Reporter]"

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Statistic 12

"The average U.S. Adult spent 39 minutes per day streaming video on a TV screen in 2020. [Source: eMarketer]"

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Statistic 13

"Cord-cutting increased by 27.5 percent in 2020, leading to 31.2 million households without cable. [Source: eMarketer]"

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Statistic 14

"In 2020, there was a 37% increase in the hours streamed on TV-connected devices. [Source: Conviva]"

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Statistic 15

"Netflix subscribers watched more than 3 billion hours of content each week in 2020. [Source: Netflix]"

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Interpretation

The statistics presented clearly reflect the ongoing trend of shifting preferences towards streaming services over traditional cable TV subscriptions. Notably, the widespread adoption of multiple streaming subscriptions, the rapid growth of key streaming platforms such as Netflix and Disney+, and the significant decline in pay-TV penetration highlight the dominance of streaming in the entertainment landscape. With the continuous rise in cord-cutting, increased streaming hours, and the convenience offered by OTT services, it is evident that the momentum is strongly in favor of streaming as the preferred choice for content consumption among consumers.

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