TV is dying…
Yes, i know that’s a strong statement to open up with but it’s the truth, since the rise of digital/social platforms and SVOD, TV networks do not know what to do with themselves. Do they try to fight fire with fire or continue as they mean to go on despite the fall in ratings and the emergence of digital platforms like Netflix and Hulu.
Today, Netflix have reported that their numbers rose 21% to 370,000 as hit shows such as Stranger Things and Narcos won over more subscribers.
It helped quarterly revenues rise 31% to $2.29bn (£1.88bn), sparking a 20% jump in Netflix’s share price.
In the three months to the end of September Netflix had about 83.3 million subscribers.
And that leads me back onto how TV is dying..
Recent industry statistics are confirming a major trend which has been in place for several years now: American consumers, especially the young, are moving away from traditional TV and increasingly spending their time and attention watching videos online or engaging in social media.
Using data from Nielsen’s Total Audience Report, clearly shows that traditional TV viewing among Americans aged 18 to 24 has consistently declined over the last five years. Viewership time fell 10% year over year in the first quarter of 2016, and it’s down by almost 40% compared to the first quarter of 2011.
Long Live the king Netflix…