Netflix Is Quickly Pushing Subscribers Away From Network TV Cites Report
Much to the chagrin of every major TV network out there, Netflix continues to rise at a solid rate and eat into its wary competition. According to research conducted by Michael Nathanson, of MoffettNathanson, cable TV viewing dropped 3% in 2015, and half of that is directly attributed to Netflix. It's being predicted that by 2020, 14% of household TV viewing will be through Netflix, highlighting that the service's growth isn't about to slow down.
Nathanson's research hits on some rather specific stats regarding how much airtime Netflix subscribers give to network giants. During 2015, those subscribed to Netflix watched CBS 42% less than non-subscribers, and it's not just The Big Bang Theory host that's feeling the hit. Other networks were hit a bit less, though: FOX, -35%; ABC, -32%; and NBC, -27%.
When all said and done, Netflix isn't quite as large as the biggest networks out there, but that's not a surprise - it has decades of competition to catch up to rival the big boys. While it does fall short of overtaking the likes of NBCUniversal, Disney, Viacom, and so forth, it currently surpasses A&E and AMC.
As hard as it might be to believe, Netflix as a company has been around for over 18 years. Despite its age, though, the company has proven that it thinks like a startup, and its current growth and constant expansion of its streaming library will help ensure a healthy future.
One of the things that helps the service continue to snap up new subscribers is that it offers a huge amount of original content, from full series to one-offs. The library at this point is simply enormous, and it continues to grow at a very rapid rate, making its monthly subscription fee almost feel negligible.