The death of cable TV is speeding up once again. According to a new report from Inscape, the total cable TV and satellite viewership on VIZIO TVs has dropped to just 37.1%. This is down from 46.9% during the same period in 2021. Streaming now accounts for 53.8% of all TV time. Video games now account for 5.4% of TV time, and OTA TV is 3.7% of all TV viewing.
In this report, they looked at how the TV was used on VIZIO TVs. Giving us an accurate look at how VIZIO TV owners use their TV.
“A month-by-month analysis of streaming’s share of viewership reveals several trends, including that streaming sustained a measurable high rate of viewing time spent in the summer of 2022. After a slight fall and winter lull, it increased once again in Q2 2023, with U.S. TV households spending 54% of their monthly viewing time streaming during the quarter. Last year, streaming’s upward surge during Q2 set up the summer months to have the largest share of streaming viewing in 2022. This year, it remains to be seen if summer months will experience another record-breaking high, but with streaming’s increasing share in Q2, it seems likely.” Inscape said in their report.
As cable TV viewership drops, streaming has grown from 44.1% in 2021 to 53.8% in 2023. Gaming saw a small jump from 4.9% to 5.4% of all TV time.
According to the report, 5% of all cable and satellite households canceled cable TV or satellite in the 2nd quarter of 2023. The study says 75% of all cable and satellite customers have cut back the amount of time they spend on cable TV. This comes as even cable subscribers are spending more time on streaming.
This report is one more example of how cord cutting is continuing to grow as Americans turn to streaming over cable TV.