It’s no secret that folks these days have all sorts of places to find great content to watch, and it seems now more than ever, folks are turning to streaming services to be entertained.
A new report by Deloitte finds that 55% of U.S. households pay for at least one streaming service, which represents a 450% increase since 2009. What’s more, the average household actually subscribes to three services, which translates to consumers shelling out $2.1 billion a month for streaming video on demand. It’s so popular, that 48% of folks in the U.S. watch streaming content every day or weekly, with the average consumer spending 38 hours per week on video content.
And while this is good news for streaming services, it’s bad news for Pay TV. The survey finds that 63% of households still subscribe to Pay TV services, which is down from 75% last year. As for why those numbers may be declining, 46% of subscribers say they are unhappy with their service, while 70% feel they get little for their money. And for those who do have it, 56% say the only reason they keep it is because it’s bundled with their Internet access.