Americans are watching more streaming video than ever — and they now pay an estimated $2 billion each month on subscription-video services like Netflix, Hulu and Amazon, reports Variety.
That’s according to the Deloitte’s 2018 Digital Media Trends Survey, which found found that 55% of U.S. households now subscribe to at least one video-streaming service (up from 10% in 2009).
The average streaming-video subscriber pays for three different services — amounting to $2.1 billion per month in revenue, according to the study. Deloitte calculated the figure based on the Census Bureau’s estimate of 126 million U.S. households for 2017.
At the same time, Deloitte’s survey found a drop in pay-TV subscriptions: 63% of U.S. households subscribe to a traditional cable, satellite or telco service, down from 74% in 2016. Pay TV’s decline is especially pronounced among Gen Z (ages 14-20), millennials (ages 21-34) and Generation X (ages 35-51). Indeed, 22% of millennials say they have never subscribed to a pay-TV service.
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