According to a report in Advanced Television, US streamnig numbers are growing again.
Kantar’s Entertainment on Demand study reports that from September to December 2022, the number of US households with video streaming rose 2.5 million, reaching a total of 115.6 million households. Household penetration of video streaming is now 89 per cent.
Advanced Television
SVoD contracted for the second consecutive quarter, but like in Q3, categorical declines are driven primarily by Netflix. With two new streaming services entering the AVoD space in Q4, the AVoD category grew the fastest in the quarter, up 17 per cent QoQ and 33 per cent YoY. The FAST category, now reaching a quarter of US households, grew 3 per cent QoQ, and 35 per cent YoY.
It’s not a bad thing that Netflix is not driving the growth in the market. More competition, including the addition of ad-supported tiers, means less barriers to adoption. Furthermore, adoption of services is driven by major titles like House of Dragons, and sports. That’s pretty good news for TV manufacturers because the content driving streaming adoption is also the content that begs for bigger and brighter screens.
In the meantime, Reed Hastings, Netflix’s CEO of 25 years, is stepping down, after the loss of millions of subscribers,. That confirms that competition among streamers is about to heat up even more. It’s all good.
