Cord cutting appears to be on the rise as streaming continues its march towards domination of the television world. TV news site TVmaze has reported that the U.S. market share for streaming services has doubled in size since the beginning of 2017 alone. That conclusion is based on TVmaze‘s “episode tracker” feature which asks its readers to self-report the television episodes they watch across all platforms, both streaming and broadcast. According to their most recent data, TVmaze reports that streaming content accounted for 9% of the episodes viewed by their users between June 2016 and June 2017, up 4% from the 2015-2016 season.
A representative from TVmaze says that the growth is likely due to the snowball-like momentum the major streaming services have picked up:
From the high quality of streamed series that are quite apparent if you even glance at Netflix to the convenience of something like Amazon Prime, the streaming channels really are building momentum. We’re all hoping this will create a dynamic where the traditional channels also increase their quality and people who love great television, like ourselves and our users, benefit in a big way.
TVmaze reports that Netflix still remains the number one choice for its readers, but Amazon Prime and Hulu are slowly catching up. As these streaming services’ subscriber bases grow, so do their budgets, which then allow them to put more money into original content – which subsequently attracts even more subscribers. It’s a self-fulfilling cycle that isn’t likely to slow down anytime soon. As more and more people – especially millennials – cut the cord in favor of streaming services, the future of television as we know it is changing in front of our eyes.