79% of millennials say Netflix has the best original shows and movies of its competitors
The Convergence Research Group released a report in April estimating that nearly 25% of the US population won't have a traditional TV subscription by the end of 2017.
This leaves an opening for streaming services like Netflix, Hulu, and Amazon Prime Video. And they are going for it.
These three have generated a lot of buzz with their critically acclaimed original series like "Stranger Things" (Netflix), "Transparent" (Amazon), and "The Handmaid's Tale" (Hulu) - all of which have been nominated for Emmys.
But which service has the best shows?
Startup LendEDU recently commissioned a poll of 820 millennials to see which streaming site they considered to have the best original content.
Netflix won by a landslide.
79% percent of those polled said they preferred Netflix's original content. "Premium channels," such as HBO or Showtime, came in at 14%, while Amazon and Hulu got just 3% and 4% respectively.
You can see the poll results here:
One likely reason Netflix is so far ahead is that its programming budget is gargantuan. Netflix will spend $7 billion on programming next year (and $6 billion in 2017).
And original content is key.
Netflix's CFO, David Wells, announced last year that Netflix is pushing to make 50% of its offering original content over the next couple of years, according to Variety. Why? Earlier this year, Netflix's content boss said originals were roughly as efficient per dollar as licensed programming, in addition to burnishing Netflix's brand name. And with companies like Disney rethinking their relationships to Netflix, the scale could continue to tip further toward originals.
The big question will be whether competitors like Amazon, which JPMorgan estimated will spend about $4.5 billion on video this year, will catch up in the eyes of viewers - especially millennials.