Streaming Services Overtake Pay TV In The U.S.

In recent years, streaming services such as Netflix, Amazon Prime and Hulu have swiftly evolved to become one of America's favorite ways to consume video content. These days, there are more digital media and entertainment options on offer than ever before and a new survey from Deloitte shows just how much progress streaming has made. U.S. households now subscribe to three paid streaming services on average and, notably for the first time, more households subscribe to a video streaming service than traditional pay television.

Taking a closer look at the ever evolving media landscape, 69 percent of U.S. households reported having a subscription to a streaming video service in late 2018 while 65 percent were paying for regular television. 41 percent were also subscribed to a music streaming service while 30 percent were paying for a gaming service. Deloitte found that one of the primary reasons consumers are cutting the cord and flocking to streaming is access to shows and movies that are not available anywhere else. 57 percent of paid streaming video consumers subscribed to access original content and among millennials, that figure is even higher at 71 percent.