Netflix is unstoppable.
Does anybody utilize cable anymore? The only thing cable television was good for in the past few years was sports, but with several streaming options now available for that too, how much longer can cable survive? Millennials ditched expensive cable plans for the cheaper, more accessible streaming platforms. Now, a new study has proved that Netflix has surpassed all other methods of television entertainment.
According to Variety, a recent survey of U.S. consumers by Wall Street firm Cowen & Co. took a survey of 2,5000 adults. They were asked, “Which platforms do you use most often to view video content on TV?” Netflix was the highest ranking response, with 27 percent claiming that they use the streaming giant to watch television. 20 percent of the respondents said they still use basic cable, with broadcast garnering 18 percent and YouTube earning 11 percent of votes. When the testing was narrowed down to just millennials, or the 18-34 age group, Netflix viewership almost doubled: About 40 percent claim to use the streaming site over YouTube (17%), basic cable (12.6%), Hulu (7.6%) and broadcast TV (7.5%).
Cowen & Co. analyst John Blackledge stated, “Over the long term, assuming [Netflix] is able to continue to increasingly offer great content, this lead clearly bodes well for further value creation."