Broadcast TV regained some ground in the TV market thanks to the start of the Fall 2024 TV season.
Advertisement
For the third month in a row, broadcast TV was able to win back a bit of its market share. In August, it was due to the Olympics; in September, it was thanks to the return of the NFL season. Now, in October, it ticked up from 22.6% to 24% as the Fall TV season kicked into gear.
While streaming did take some small hits, with Netflix dropping from 7.9% to 7.5%, and Prime Video dropped from 3.6% to 3.5%, other services climbed. The FAST (Free Ad-Supported TV) services once again grew as Roku Channel jumped from 1.6% to 1.8%, and Tubi climbed from 1.7% to 1.8%.
Nielsen The Gauge October 2024
Despite all of the shifts this month, there is still a clear picture that something needs to be done about Paramount Plus, Max, and Peacock. Peacock dropped from 1.4% to 1.3%. The three services combined came to 3.7%, and that is not a great combination when you consider how much money they have put into their programming.
Some form of merger seems inevitable with these numbers. Why Paramount Plus hasn’t found a way to incorporate Pluto TV – which it owns – in a meaningful way is the true mystery of the moment. The two combined add up to 2% and would finally propel them up the list by a decent amount. There have been rumors of Max and Peacock being in talks, which would combine for 2.5%, putting them ahead of Disney Plus and Hulu. With Prime Video integrating Freevee, Paramount is going to have to consider this more.
It’s clear TV consumption habits are changing at a rapid pace, and some companies are going to need to learn some hard lessons and soon.
IMAGE SOURCE: Shutterstock – Streaming – Poxima Studio
