Streaming Surges as Hollywood Strikes Impact
What is your favorite way to watch TV? New reports show most Americans prefer streaming over cable but now the recent strikes in Hollywood could change how streaming services operate.
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00:00 And what is your favorite way to watch TV?
00:02 New reports show most Americans prefer streaming over cable,
00:06 but now the recent strikes in Hollywood
00:07 could change how streaming services operate.
00:10 Eva Ramos has those details.
00:13 More Americans are turning on streaming apps
00:15 to watch their favorite movies and TV shows.
00:18 According to recent data published by Nielsen,
00:21 streaming services now have a greater share
00:23 of viewers than cable.
00:24 That means apps like Netflix, Hulu, and Disney+
00:28 capture 38% of all television viewing,
00:31 while traditional cable television commands just 31%.
00:34 The news comes as thousands of Hollywood workers
00:37 remain on strike.
00:38 They're negotiating a new contract with major TV studios.
00:42 Streaming residuals are at the heart of the dispute.
00:45 Nielsen and other companies that have been in the TV world
00:47 measuring this for a long time
00:48 are now getting into streaming.
00:50 Netflix has a deal with them, as do other streamers.
00:53 But it's a completely different methodology
00:55 that's been used to measure success of shows
00:57 on TV versus streaming.
00:59 So whether or not the two sides can come together
01:02 and create some sort of standard baseline
01:05 that can be used from here on forward,
01:07 as far as streaming goes,
01:09 that's really unknown at this point.
01:10 According to a recent report by Reuters,
01:12 Netflix may be best positioned of any entertainment company
01:16 to survive an extended walkout.
01:18 It's due to the company's
01:19 international production capabilities,
01:21 and because a lot of their content comes from countries
01:23 that are not involved in the strike.
01:25 And just knowing what content they have,
01:27 it looks like for about the next 10 to 12 months,
01:30 people are estimating that they're pretty good
01:31 in terms of having a catalog
01:33 of good available content coming.
01:35 But after that, if this strike goes on,
01:38 everyone's gonna be impacted, including Netflix.
01:40 Economists say the strikes could cost the US billions.
01:44 The previous writers' strike in 2007
01:46 wiped $2 billion off Los Angeles's economy alone.