If you are fan and user of online streaming services like Netflix, Hulu and Amazon Prime, you should be cheering up because online streaming outnumbered cable customers.
Netflix, Hulu and Amazon Prime combined surpassed Cable Subscribers
As stated in a report by Motion Picture Association of America, overall number of streaming subscribers crossed the number of cable subscribers in 2018. Now that is 2019, you could imagine the distance should be increased.
The rise of 27% observed from 2017 in year 2018, with 613.3 million subscribers of video services like last year and surpassing 556 million people those who subscribe to cable. Of course few the these people subscribe to both.
The cable subscription is at downfall and the revenue of cable services seen $6.2 billion increase compared to last year, and in combined it was $118 billion. Online streaming service subscriptions generated less than $40 billion in revenue last year.
Hence, it is clear the online streaming services like Netflix, Amazon Prime and Hulu are future of entertainment, but they are not making as much as they should. At least in terms of number of subscribers they have. However, its good for us that they are providing services at far better cost compared to cable operators but not these services. If you are online streaming love check list of 15 Best Movie Streaming Sites To Watch Movies For Free 2019.
These are few facts mention in report:
- In 2018, combined theatrical and home entertainment consumer spending globally reached $96.8 billion, overall 9% increase from 2017.
- In 2018, global home entertainment consumer spending (content released digitally and on disc) reached $55.7 billion, 16 percent increase compared to 2017.
- In United States, home entertainment consumer spending increased to $23.3 billion account for 66 percent of combined theatrical and home entertainment consumer spending.