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The traditional TV slump is intensifying as viewers switch off

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Traditional TV experiences its most significant drop in viewership since Ofcom began recording data.

While major events like the Queen’s funeral and England football matches continue to attract large audiences, public service broadcasters ITV and BBC are facing tough competition as viewers increasingly turn to alternative sources of entertainment.

According to a recent report by Ofcom, the proportion of people watching broadcast TV each week declined from 83% in 2021 to 79% in 2022, the largest decrease on record. The rise of streaming platforms like Netflix and Apple, along with social media sites such as YouTube and TikTok, has been drawing younger viewers away from traditional television.

Older audiences

Surprisingly, the report also indicates a significant decline in daily broadcast TV viewing among older audiences (aged 65+), dropping by 10% year on year and 6% below pre-pandemic levels.

Furthermore, the average time spent watching broadcast television per person per day decreased from two hours and 59 minutes in 2021 to two hours and 38 minutes in 2022.

While public service broadcasters still dominate the list of most-watched programs in the UK, the number of shows with over four million viewers has more than halved in the past eight years, indicating a shift towards streaming platforms.

Netflix, in particular, accounts for the majority of programs with large viewership on streaming services.

TV decline

The decline in traditional TV viewership is evident in the reduced number of people watching early and late evening news bulletins, as well as popular soaps like Coronation Street, EastEnders, and Emmerdale.

BBC One and ITV1 remain the top choices for viewers when they first turn on their TVs, but streaming platforms like Netflix are catching up.

On-demand services such as BBC iPlayer and ITVX are also experiencing growth in usage.

Yih-Choung Teh, Ofcom’s group director for strategy and research, stated that today’s viewers have an abundance of broadcasting and online content to choose from, leading to declining viewership for traditional broadcasters.

Nevertheless, public service broadcasters continue to unite the nation during important cultural and sporting events, and their on-demand platforms are witnessing positive growth as they adapt to meet audience demands.

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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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