The internet is officially what's on TV
Bottom Line: Reading through the latest research on streaming services I found myself thinking about an early episode of Seinfeld (not uncommon regardless of the topic btw). It was when Jerry and George were first pitching their "show about nothing". When they were pressed by the TV exec about why people would watch their show, George said "because it's on TV". The tactic didn't work in the show and now what's on "TV" isn't even what's on a majority of TV's much of the time. What the heck am I talking about?
From the advent of TV streaming there was always going to be a day when the most common way people watched TV was through the internet rather than a traditional service. According to the latest research that day has already arrived. Deloitte's annual report on digital media found that for the first time on record a majority of Americans are streaming at least some of the TV they watch. Here were some highlights:
55% stream at least some TV (+6% over last year)
23% only stream TV
Unsurprisingly younger adults, Millennial's, are far more likely to exclusively stream than other generations. Something else that's interesting is that nearly half of traditional cable/satellite subscribers also subscribe to at least one service (most commonly Netflix), while those who exclusively stream average subscribing to three services (with Netflix also leading the way). What's more is that the trend is only going to continue to grow through demographics but also likely attrition. 46% of those who pay for traditional premium TV say they're dissatisfied with the service. So, what's online is what's on TV. That includes reruns of Seinfeld.