Netflix Crushes Cable and Broadcast TV for Home Viewing, Survey Finds

July 3, 2018, 8:30 PM UTC
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The Netflix Inc. website and logo are displayed on laptop computers arranged for a photograph in Washington, D.C., U.S., on Tuesday, Jan. 21, 2014. Netflix Inc., the largest subscription streaming service, is expected to release earnings data on Jan. 22. Photo by Andrew Harrer—Bloomberg/Getty Images
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Consumers continue to move away from basic cable and broadcast television for Netflix, according to a new survey from financial research firm, Cowen Inc.

The streaming giant is the top choice among U.S. consumers when it comes to home viewing, Cowen found after asking 2,500 respondents “which platforms do you use most often to view video content on TV?”

Netflix was most popular, with 27% of respondents saying they used the streaming service most often. Basic cable came in second place at 20%, and broadcast television was third with 18%. YouTube, Hulu, Amazon Prime Video followed. Premium cable channels such as Showtime, HBO and Cinemax were next.

Cable and broadcast television were even less popular among younger viewers, researchers found.

A staggering 40% of respondents aged 18 to 34 years old ranked Netflix as their top source for viewing video content. YouTube came in second place with 17%, followed by basic cable with just under 13%.

As more consumers gravitate toward streaming services, Netflix continues to add new offerings.

On Tuesday, the company announced it greenlit Mexican drama Monarca from Salma Hayek’s company Ventanarosa, Lemon Studios and Stearns Castle.

The original series about Mexico elites riddled by corruption, scandal and violence will star Mexican actors Irene Azuela and Juan Manuel Bernal. The show is set to begin production in the fall, and will launch globally in 2019.

“I’m extremely excited to partner with Netflix, and to be working with amazing Mexican talent in front of and behind the camera, Hayek said in a statement.

The deal is the latest move among digital companies to partner with high-profile talent.

Amazon Studios recently announced production agreements with Game of Thrones producer Vince Gerardis, Get Out director Jordan Peele and Nicole Kidman to develop new content.

Meanwhile, Apple has enlisted Oprah Winfrey to create original programs.