The article below was originally published by eMarketer, titled, Streaming Service Use Now More Common than Cable Subscriptions, written by Monica Melton.
More people are now using streaming video services than have a cable subscription, according to a May 2017 study from Fluent LLC. The survey found that 67% of US internet users watch or have access to a streaming service, while just 61% have cable in their homes.
Unsurprisingly, millennials used streaming services at a higher rate than their older counterparts. However, while more than three-quarters (77%) of millennials said they have access to a streaming service, so did almost two-thirds (65%) of non-millennials.
Netflix was king among both millennials and those ages 35 and older. More than six in 10 millennials (61%) surveyed had access to the subscription video-on-demand (SVOD) service, compared with 45% of non-millennials. Amazon Prime Video was the lone streaming service subscribed to by both age groups at the same rate—16% of respondents. Most of the other streaming platforms examined in the survey had a higher penetration rate among younger internet users.
Low cost was the top factor that persuaded respondents to pay for streaming content. More than one-third (34%) of respondents chose that as a reason for signing up for a streaming video service.
Nearly three in 10 millennials (29%) said they signed on to a service because it gave them the convenience of watching content on any device, while about two in 10 (21%) non-millennials said the same.
Interestingly, access to original content had a strong pull for almost one-fifth (18%) of all respondents. Syndicated content was much less of a draw, named by just 7% of internet users as a reason for joining a streaming platform.