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Streaming officially overtook traditional TV in May, accounting for 44.8% of total viewership, its highest share on record. That edged out the combined total of cable (24.1%) and broadcast (20.1%), which together made up 44.2%. Cable refers to paid TV packages delivered through providers like Comcast or Spectrum, while broadcast is free, over-the-air content from networks like ABC, NBC, and CBS. It’s the first time streaming has decisively pulled ahead, signaling a permanent reshaping of how Americans consume content.

This isn’t just about eyeballs, it’s about revenue realignment. The old cable model which is reliant on channel bundles, affiliate fees, and traditional ads, is being eclipsed by streamers like Netflix, YouTube, and Prime Video, which are scaling subscription revenue, targeted ads, and exclusive ecosystems. Control over distribution is shifting to tech-native platforms, accelerating the decline of legacy networks. For the economy, this means a redistribution of power across the media landscape. Expect cost-cutting and consolidation across traditional broadcasters, while dominant streamers enjoy stronger margins and growing influence over advertising dollars and cultural clout.