The Globe and Mail reports in its Wednesday edition that video streaming services such as Netflix and YouTube are steadily eating into the time consumers spent watching traditional television. The Globe's James Bradshaw writes that growing numbers of TV customers are thinking about pulling back on cable and satellite, posing a significant risk to the TV industry.
Traditional TV is still dominant, accounting for the lion's share of weekly viewing, but a trio of recent studies outlines a pronounced shift that promises to accelerate as younger viewers accustomed to getting TV shows, films and shorter-form video on-line eat into the market.
Growth among streaming services has been uneven, however.
Netflix Inc. is the giant of subscription-based on-line video in Canada, with more than five million estimated subscribers.
That compares with CraveTV; parent company BCE boasted in November that the service had passed the one-million-subscriber mark for the first time, having locked up rights to popular shows from HBO and Showtime.
Financial concerns are still the main trigger causing TV subscribers to walk away from traditional cable and satellite bundles as the streaming trend continues.
© 2024 Canjex Publishing Ltd. All rights reserved.