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In July, 83% of US adults said their household has an Amazon Prime Video, Hulu, and/or Netflix subscription. That figure has surged over the past eight years, up from 47% in 2014.
Beyond the chart: The rise of streaming video services has been pivotal in the move away from pay TV. By the end of 2024, for the first time, there will be more cord-free viewers than pay TV viewers in the US, per our forecast.
Despite the downturn, these platforms continue to invest in original content, not just to court subscribers, but to capture the influx of ad dollars as well. For example, nearly half of Netflix’s content budget will go to originals by 2025, per Kagan. With an ad-supported tier on the horizon, originals will offer Netflix more ad placements and control than licensed content could.
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