Hollywood writers could not have scripted a better climax to the ongoing labor negotiations gripping the entertainment industry than the news that for the first time in the history of television, viewers spent a majority of time watching premium content off of broadcast or cable.
The announcement from Nielsen that cable and broadcast’s share of TV viewership had plummeted to an all-time low of 49% in July was long coming. Traditional TV has been on the decline for years, but younger generations have accelerated the collapse by stampeding away from cable.
According to the Harris Poll, two-thirds of Gen Z and more than half of Millennials do not have cable today.