Coronavirus shutdown sends streaming subscriptions up 31%
This comes as Apple, Disney+ and Netflix battle for viewers
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People are turning to TV for comfort in the coronavirus pandemic.
About 31 percent of Americans added a new streaming service in March, April or May, shows data from CreditCards.com, which polled 2,520 U.S. adults on their watching habits. The data also found that more than half of streamers, 52 percent, shared an account with a friend.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 167.04 | -0.96 | -0.57% |
| DIS | THE WALT DISNEY CO. | 112.43 | -0.51 | -0.45% |
| NFLX | NETFLIX INC. | 611.15 | -2.54 | -0.41% |
That suggests the total number of streamers is even higher.
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“Unstructured time at home … left many people dazed with the suddenness of the mandated order and the radical shift from office to home with significant others — and most likely children mandated not to go to school,” Maggie Baker, a financial therapist and author of “Crazy About Money: How Emotions Confuse Our Money Choices and What To Do About it,” said in the report. “At home with blocks of unstructured time, what better to do than get lost in as many intriguing streaming movies, episode shows and documentaries you can find?”
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Of those who tacked on an extra service, the findings point out 43 percent are millennials, 33 percent belong to Generation X and 18 percent are baby boomers. Researchers also saw a 54 percent jump in subscription usage among streamers, compared with January and February.
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The jump in streaming comes as top platforms Apple, Disney+ and Netflix battle for viewers. While Apple has not rolled out subscriber numbers for Apple TV Plus, it has given subscriptions away to many who use Apple products. Netflix reported 182.8 million subscribers worldwide in April, and Disney announced Tuesday it had 54.5 million Disney+ subscribers as of May.