Traditional TV viewing is falling off a cliff.
According to the latest data from Nielsen, linear TV viewership fell below 50% in July for the first time. Broadcast and cable each hit a new low of 20% and 29.6% of total TV usage, respectively, to combine for a linear television total of 49.6%.
Time spent streaming (via a television) increased 2.9% in July compared with June, according to the data, to reach a record of 38.7% of total TV usage. YouTube (GOOGL), Netflix (NFLX), and Amazon Prime Video (AMZN) all saw month-over-month viewership increases of 5.6%, 4.2%, and 5%, respectively, in July.
"Linear TV [is] past the point of no return," Macquarie analyst Tim Nollen wrote in a note to clients on Monday, adding the revenue line for cable and satellite operators is "probably permanently negative" as pricing fails to drive upside while TV advertising growth stalls.
I'm going to cancel cable soon and go to streaming service as soon as I get my internet speed upped.