Netflix Is the Top Choice For Viewing TV, Study Finds

Netflix- Apple TV

Netflix- Apple TV

According to a recent survey by Cowen & Co., Netflix is easily the most popular way for people to watch TV.

That first chart is for all TV watchers, and the question was, "Which platforms do you use most often to view video content on TV?" For all ages, Netflix's victory is relatively slim: 27 percent, with basic cable the next closest at 20 percent and broadcast at 18 percent. Nearly 40 percent of young adults say Netflix is their go-to choice for watching TV-more than double that of YouTube at 17 percent, with basic cable at 12.6 percent, Hulu at 7.6 percent, broadcast TV at 7.5 percent, and 3.4 percent for Amazon Prime.

The survey, performed by Wall Street firm Cowen & Co. and reported by Variety, puts Netflix ahead of not only cable and broadcast networks, but also subscription-based competitors YouTube and Hulu when it comes to entertainment viewing. Hulu (7.6%) and broadcast TV (7.5%) rounded out the bottom.

Cowen & Co. analyst John Blackledge stated, "Over the long term, assuming [Netflix] is able to continue to increasingly offer great content, this lead clearly bodes well for further value creation". The company released 452 hours of USA original programming in Q2 2018, up 51% year-over-year, and it's set to spend $13 billion on content in 2018.

Blackledge believes that Netflix will give shareholders plenty of reasons to be excited on July 16th when the company discloses its quarterly earnings. The company has forecast net adds of 5 million global subscribers and 1.2 million US subs. The firm expects Netflix global subs to grow from 83.6 million at the end of 2018 to 255.2 million in 2028 (up from its previous estimate of 243.9 million).

"Netflix continues to ramp its original content offering, including local originals in many worldwide markets", Blackledge wrote.

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