“Americans are watching more streaming video than ever,” and now pay to subscription streaming video services – such as Netflix, Amazon and Hulu – an estimated $24 billion annually, reports Variety.
It’s more than twice the $11 billion that we spent going to movie theaters last year.
“That’s according to the Deloitte’s 2018 Digital Media Trends Survey, which found that 55% of U.S. households now subscribe to at least one video-streaming service (up from 10% in 2009),” Variety says.
The article continues, “The average streaming-video subscriber pays for three different services — amounting to $2.1 billion per month in revenue, according to the study. Deloitte calculated the figure based on the Census Bureau’s estimate of 126 million U.S. households for 2017.
“At the same time, Deloitte’s survey found a drop in pay-TV subscriptions: 63% of U.S. households subscribe to a traditional cable, satellite or telco service, down from 74% in 2016. Pay TV’s decline is especially pronounced among Gen Z (ages 14-20), millennials (ages 21-34) and Generation X (ages 35-51). Indeed, 22% of millennials say they have never subscribed to a pay-TV service.”
Here are two other findings from the survey, according to Variety:
“Binge watching continues to grow” and “pay-TV unhappiness remains high.”
To read a lot more details about this item, please click here, which will take you to the Variety story.
You can read Deloitte’s own comments about its survey if you click here.