MUMBAI: Netflix is outperforming traditional TV in the US. It has reached the top spot among platforms for watching entertainment on TV leaving traditional cable and broadcast television networks as well as YouTube and Hulu behind. A recent survey of US consumers by Wall Street firm Cowen & Co. has revealed the fact.
The survey conducted in May included 2,500 US adults. The participants were asked which platforms they use most often to view video content on TV. 27 per cent of the total respondents choose Netflix. Other sources of entertainment like basic cable, broadcast and YouTube stood at 20 per cent, 18 per cent and 11 per cent respectively.
More importantly, millennials give Netflix higher preference. 40 per cent of adults aged 18 to 34 prefer the platform most often to view video content on their TVs. Only 17 per cent of them use YouTube, 12 per cent basic cable, 7.6 per cent Hulu and 7.5 per cent broadcast.
“Over the long term, assuming [Netflix] is able to continue to increasingly offer great content, this lead clearly bodes well for further value creation,” Cowen & Co. analysts led by John Blackledge wrote in a research note as quoted by Variety.
Other than US, Netflix is trying to strengthen its foothold in other countries too. In India, it has recently launched Lust Stories that has been critically acclaimed. It’s also being very bullish about its original content. The company hopes to add five million international subscribers at the end of this quarter.
“Owning a leading international content-production footprint and ramping relationships across the talent ecosystem should prove beneficial to Netflix’s ability to increase production in those markets, much of which is produced at a lower cost than similar content produced in Hollywood,” the Cowen & Co. analysts wrote.
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