Results of a new survey, conducted by consulting firm Frank N. Magid Associates, over half (55%) of U.S homes now stream TV shows and movies, up from 49% in 2011.
Netflix is now used in 25% of homes in the U.S, up from 20% a year ago. But it’s not just Netflix who have benefitted from this love of streaming. Amazon Instant Video and Hulu have also seen increases from 5% to 8% and 4% to 5% respectively.
“Netflix certainly is the de facto brand for long-form streaming,” says Maryann Baldwin, vice president of Magid Media Futures, a division of the consulting firm.
“As more people discover Hulu Plus and Amazon Prime, their expectations for quality content are going to change because they tend to have the more recent content,” Baldwin says. “The competition is making inroads.”
This competition can’t be a bad thing, Netflix CEO Reed Hastings envisions a “virtual cycle” in which Netflix continues to add subscribers — the goal is 60 million to 90 million — allowing the service to expand its content library. “Gain more subscribers and get more content, gain more content, get more subscribers,” Hastings said. “And what propels our growth is that continuing content.”
Netflix has already started this “cycle” with a number of original shows, including House of Cards which premieres tomorrow (1st Feb) and with Hulu having distributed a number of Original and Exclusive Series in the past 2 years and also resurrecting two cancelled soaps later this year (All My Children and One Life To Live) the love of streaming video will continue to grow.