Furthermore, they predict that Netflix will enjoy an average of 29 minutes of time each day in 2020 from adult viewers in the US. This is an increase of 6 percent from last year. They have also predicted for it to increase to 30 minutes in 2021.
What About YouTube?
As for YouTube, its own share of viewing time is predicted to drop to 22.4% from 23.4% in 2020. Then it will go to 21.7% in 2021. But they believe that the average time US adult viewers will spend on YouTube will increase to 24 minutes from 23 minutes when the year 2020 comes.
While the overall amount of time that viewers will spend on digital video is going to increase in the coming years, top streaming platforms like YouTube and Netflix will see a decrease of their dominance. This is because of the many new streaming platforms available in the market now, such as Apple TV+ and Disney Plus.
Even if Americans will spend more time watching Netflix, the attention of the viewers will now be divided since a number of new platforms have emerged. These newcomers will crowd the video streaming landscape. This will cause a decrease in the amount of time that viewers are going to spend on Netflix.
All these changes come now that streaming is becoming the people’s choice of viewing media content. According to experts, adults from the US will be spending around 108 minutes every day watching digital video content. This is an increase of 20 percent from last year.
All in all, in 2019, digital video made up more than a quarter of the amount of time that people spent on browsers and apps using various devices.
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Teens Prefer YouTube More
It’s been found that teens prefer to spend more time on YouTube than Netflix. This was according to a survey released by Piper Jaffray. 37% of teens that took part in the survey have said that they would prefer to stream videos on YouTube. Only 35% would prefer Netflix. The firm behind the survey believes that the increase in viewing time among teens on YouTube has something to do with YouTube’s diverse content library. YouTube has a library for video game playthrough, music videos, DIY, and videos made by famous social media influencers.
Recently, Netflix has gone through a tough time with shares falling by more than 27% over the past three months. During the second quarter, the company revealed subscribers miss on their earnings report, which is pretty rare. This has caused growing concerns among its investors who fear that it may be due to stiff competition among the many streaming services recently, such as Apple, Disney, AT&T, etc.
But although YouTube has surpassed Netflix, teens are still choosing Netflix over other streaming services. For instance, only 7% of teens would prefer Hulu. And only 3% of the teens surveyed would choose Amazon Prime Video. Moreover, Cable TV is on the third spot, at 12%, which was a decrease from 14%.
Of all the subscription services, it’s Netflix that stays at the top. The company has enjoyed a massive growth over the past years despite the arrival of various streaming platforms. They agree that there will be increasing competition as well as unforeseen hurdles along the way. However, they believe that the streaming industry will be able to support various players with Netflix being on the lead.
Which platform will you choose among all these options? Which streaming service do you think deserves the most viewing time? Let us know in the comments!