Keep pressing play on cord-cutting.
As Q3 comes to a close, cord-cutting continues to gain steam. According to eMarketer, between 2019 to 2023, US pay TV households will decline from 86.5 million to 72.7 million. In the same time frame, the combined number of cord-cutters and cord-nevers will climb from 40.2 million to 56.1 million.
With that being said, which digital video service is growing faster than we anticipated?
Surprisingly, Hulu has gained the most Hulu monthly viewers in the US as they went from 63.9 million viewers to 75.8 million. However, will that good fortune continue in 2020? With new major video streaming services in the works, it is hard to tell if Hulu can hang on to the ‘overachiever’ title.
With 235.1 million US digital video viewers in 2019, that is an increase of 2.5% over the last year. If that increase continues, or gains steam we can expect streaming services to see quite the advancement.
With 2020 in the horizons, what trends will take place next year?
Will streaming services, like Sling and Hulu find themselves at a content crunch? It is hard to keep up with the trends especially with so many players on the field.
Netflix, can certainly attest to this. As in Q3, they fell short of subscriber growth in the US. With the launch of Apple TV and Disney+, in less than two weeks, it will be interesting to see how Netflix matches up to the competition.
Stay tuned for Q4 trends!