A recent study shows that many people who have Netflix stop watching network shows which aren’t available on the platform. Even if shows are available on Netflix, the latest episodes don’t come onto the site until the whole season is finished airing on TV, usually, so people just don’t watch. MoffettNathanson, a research firm, recently released the results which back up this claim. In 2014, 2.8% of US households did not have cable TV, and only had internet connection, which was a big jump from the previous years 1.1%. This seems to correspond to a 3% drop in television viewership in 2015.
Netflix claims that they have streamed 29 million hours of video in 2015. This is due to the fact that Netflix offers great, high quality content which includes movies and TV shows, as well as those that are produced by the company themselves. Netflix is basically the reason for many terms like binge-watching and “Netflix and chill,” so you can see it has affected our culture a whole lot besides allowing people to drop their expensive cable subscriptions in favor of a $7.99/month subscription.
The take away from this is that networks will need to adapt – and fast – or risk losing even more viewers. They will need to do this by creating their own functioning streaming platforms because that seems to be the way of the future. All businesses need to adjust to the future, which is changing faster and faster every day. What is your business doing to keep up with technological changes?
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