Dan Ives: Streaming services eclipsing TV networks a 'sustainable' trend

Following news from Nielsen that streaming services in July received more viewers that traditional TV networks, investor Dan Ives told Fox Business that the new viewing method could conceivably continue to soar past cable in popularity.

In July 2022, streaming platforms took 34.8% of overall television viewers, narrowly edging out cable viewers, who comprised 34.4% of the market. Broadcast claimed 21.6%, according to the Neilsen report released Thursday. In July of 2021, streaming took 28.3%, cable took 37.7%, and broadcast took 23.8% of viewers.

"I think it's sustainable," the Wedbush Securities managing director said of streaming's growth. "I mean, look, you're seeing a streaming arms race that's going on, but it really comes down to content."

"And I think you're starting to see a tipping of the hand here in terms of where it's going," he continued. "You're going to see upwards of $40 to $50 billion potentially spent as it goes forward."

"And I think this is a shot across the bow of traditional media," Ives went on. "And I think the other variable is what's going to happen in sports content more and more. That's really going to be up for grabs. Apple, Amazon and others going after it."