[As seen in Surfing the Black Wave: Brand Leadership in a Digital Age, available now.]
With 80 million subscribers to Netflix alone, this single streaming-TV media network has eclipsed the entire cable TV industry, which quietly fell to almost half as many subscribers. As the viewing time of Millennials is mapped out, the trend line reveals an unsettling silhouette of the great surge taking place.
Already, 54% of Millennials’ viewing time is spent on streaming TV, leaving less than a quarter of their viewing time allocated to live TV. Streaming has surpassed traditional television for the next generation. Now, a quarter of Millennials subscribe to no paid TV at all, and that number is increasing quickly.