Netflix Is Now More Popular Than Traditional TV
It’s been well publicized for a number of years that ‘cord-cutting’ is on the rise, with younger generations in particular canceling their subscriptions to cable television providers in favour of content available via streaming services over the internet.
Cord-cutters is the term given to those who make the switch to mostly internet viewing and the phenomenon is hardly a surprising trend, with tech-savvy millennials realising that the content they can stream is significantly cheaper – or free – versus the same content provided via cable.
The streaming service that has benefited most from this new technological leaning? That would be Netflix, the billion-dollar streaming giant that according to surveys is now officially more popular than both traditional TV and cable.
A survey in July of this year by investment firm Cowen & Co found that Netflix now outperforms all other video platforms, predictably including broadcast television but also being more widely watched than all other modern streaming services, including YouTube, Amazon Prime Video and Hulu.
The streaming service now also offers content in over 20 languages. It’s become a media behemoth. The popular slang term ‘Netflix and chill’ has even taken on a life of its own and going viral across the internet, has no doubt boosted Netflix’s subscriptions even further.
Pretty much every corner of the globe now uses Netflix, though perhaps owing to cultural differences, in certain countries Netflix is censored. If you live in China, Syria, North Korea or Crimea for example, you can’t watch Netflix.
Currently, there are discussions on whether Netflix will individually censor much of the content that is available in India. In each country the Netflix library available is different, meaning there are certain shows on US Netflix that aren’t available in other countries because of copyright issues and rights management.
But even then, there’s this workaround which shows wherever you are on the globe, for tech-savvy millennials, there is a way to get around it. Anywhere in the world, a VPN (virtual private network) can be used to bypass Netflix geo-blocking.
Meaning it’s even possible to watch Netflix in China, where there’s another 1.3 billion potential cord-cutting converts.
As you might expect, Netflix’s edge in popularity was also significantly higher amongst younger viewers. Amongst the general population, 27% of people use Netflix as their most common form of watching video content, but that rose to 39.7% among 18-34-year-olds.
The success of Netflix can be credited to a number of factors, perhaps most significantly other than the price being how easy and versatile it is to use.
As an account holder, you can watch Netflix on your smartphone, you can watch on your desktop or laptop, or your games console, your Smart TV – pretty much anything that has a screen and access to an internet connection. The content is varied too. Netflix features TV series (including its own original productions), movies, documentaries and feature films across a wide variety of genres.
Netflix is now the world’s 10th-largest internet company by revenue and claims to be the world’s ‘leading internet entertainment service’ with a reported 130 million memberships in over 190 countries worldwide.