This week, the research firm Deloitte released the 13th edition of its Digital Media Trends survey and the results were full of interesting information about the growth of cord cutting services.
The survey showed that US consumers on average subscribe to three video streaming services. The results also showed that video streaming service subscriptions are now larger than traditional pay-TV services like cable TV. According to the report, 69% of Americans subscribe to a streaming services but just 65% of Americans have a traditional pay-TV service.
What’s causing the increase in video streaming service popularity? The Deloitte survey discovered that the driving force behind the interest in streaming service is high quality, original content.
With original programming continuing to grow in both volume and popularity (even scoring 35 Emmys for Netflix, Hulu, and Amazon in 2018) viewers will likely continue tuning in specifically for these series and movies exclusive to streaming services. In fact, the survey showed that 57% of streaming service subscribers listed original content as their reason for choosing video streaming.
Millennials in particular have been interested in original content. In this age group (ages 22-35) 71% of subscribers listed original content as their reason for subscribing to streaming services. 37% of those millennials binge watch an average of four hours of content in a single sitting each week.
With existing streaming companies continuing to roll out original programming, and new services like Apple’s soon to launch service investing heavily in new programming, we can expect to see these numbers continue to rise.
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