Netflix caused a big drop in TV viewing in 2015, according to a new study

Netflix

In the war for eyeballs, Netflix is taking a big chunk of viewership from the major networks, a new study shows.

Michael Nathanson, an analyst for research firm MoffettNathanson, conducted a study of viewing habits of Netflix subscribers in the United States, Variety reports.

Based on an estimated 20 billion hours of streamed video from subscribers in 2015, he found that Netflix is responsible for half of the drop in TV viewing in America. There was a 3% total drop in TV viewing last year, and Netflix's stake amounts to about 1.5% of that.

What's perhaps most surprising is that the study found that the major networks — ABC, CBS, NBC, and Fox — are losing way more viewership to the streaming video giant than their cable counterparts. In homes with Netflix, for instance, CBS viewing was 42% lower than homes without the streaming service. ABC and NBC were down 32% and 27%, respectively, versus non-Netflix homes. That's pretty big.

In contrast, Viacom networks — such as MTV, Nickelodeon, Comedy Central, and VH1 — were down just 5% in Netflix homes. And Disney actually went up 11%. Nathanson believes this may mean younger viewers are switching back and forth between Netflix and regular TV more than other age groups.

Not all networks are suffering in the same way, though. Some networks actually saw an increase in total viewing, including Time Warner, such as HBO and TNT; Scripps Networks Interactive, including Food Network and Cooking Channel; AMC Networks, such as AMC and IFC; and Discovery Communications, including TLC and  Animal Planet.

Traditional TV networks have not been quick to embrace streaming. Time Warner CEO Jeff Bewkes said last November that the company was thinking about delaying releases of its shows to streaming in order to curb some viewership loss.

And during the Television Critics Association press tour in January, one NBC ratings executive presented numbers he believed represented Netlflix's ratings. He then said, "I don't believe there's enough stuff on Netflix that is broad enough and is consistent enough to affect us in a meaningful way on a regular basis."

This new study shows that NBC probably shouldn't underestimate Netflix.

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