Reed hastings

Traditional pay TV faces a bleak future, a new survey indicates.
Nearly a third of consumers now say they don’t subscribe to any kind of multi-channel pay TV service.
Meanwhile, a plurality of US consumers say Netflix is the service they most frequently watch on their TVs, and it’s significantly ahead of basic cable service.
Among Millennials, Netflix’s lead is even larger.

We just got another glimpse at how much trouble the traditional pay TV business is in because of Netflix and online streaming.

The portion of US consumers who don’t subscribe to any kind of traditional pay TV service is now nearly one in three, according to a new survey from Cowen Equity Research. Among all consumers, basic cable is now a distant second to Netflix when it comes to the service they say they use most often to watch video content on their televisions. And among Millennials, basic cable is no. 3, topped by not just Netflix, but YouTube too.

The survey “once again highlights the importance of Netflix in the home, particularly among Millennials,” Cowen analyst John Blackledge said in the research report that contained the survey data. Netflix’s well-publicized push to invest in original, high-quality shows and movies, he continued, “likely ensures …read more

Source:: Businessinsider – Finance


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