TV Consumption in February 2023: Streaming Continues to Rise
In February 2023, the television industry experienced a decline in overall usage, as per Nielsen’s monthly report, The Gauge. However, streaming continued to gain momentum, accounting for more than 34% of TV usage, up from the previous month’s 32.8%.
Broadcast viewing fell by 9.2%, cable viewing dropped by 5.7%, and streaming witnessed a fractional dip due to less high-demand content, particularly after the NFL playoffs in January. Nonetheless, streaming’s overall share of TV usage increased to a record 34.3%, which is a significant surge from the previous year, confirming the platform’s growth.
Netflix and YouTube maintained their positions as the top two streaming services in the United States, with 7.3% and 7.9% share, respectively. Hulu grew its market share, accounting for 3.3% of TV usage in February. Amazon Prime Video continued to gain popularity, occupying 3.0% of the streaming market share.
Disney+ saw growth in its share, accounting for 1.8% of TV usage in February, up from the previous month’s 1.7%. Despite remaining stable in February, HBO Max, Peacock, and Pluto TV dipped slightly. On the other hand, Tubi TV, another free ad-supported television entrant, took 1.0% share, pushing Pluto TV down to 0.7%.
“Other Streaming” services, including Sling TV, Spectrum, and DirecTV, took a significant hit, dropping from its previous month’s share of 10.9% to 6.8% in February. However, it’s crucial to note that Nielsen adjusted its streamer methodology by removing viewing through MVPD and vMVPD streaming apps like Hulu Live, YouTube TV, DirecTV, and Charter/Spectrum from the streaming category.
Nielsen intends to prevent double-counting, as viewing of the MVPD and vMVPD streaming apps has always been reflected either in broadcast or cable. Hence, adjusting for the live programming change, streaming platforms witnessed a surge in their market share, boosting their share of TV usage to 34.3% from 32.8%.
In conclusion, streaming services continued their rise to fame, outpacing traditional television viewing. As technology advances, it’s crucial for TV networks to reconsider their strategies to keep up with the rapidly changing times. Streaming giants continue to innovate and aim to maintain their lead, further disrupting the traditional TV industry.#Television #usage #dips #February #streaming #time #NASDAQGOOG