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Chart: The Netflix Generation

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Chart: The Netflix Generation

Chart: The Netflix Generation

Millennials, streaming platforms, and the slow death of cable television

The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

Since launching in the United States in 1948, cable television quickly emerged as the media consumption method of choice for families around the world.

Cable brought to us some of the most memorable and noteworthy events in history. People saw the fall of the Berlin Wall from their living rooms in 1989 – and many even remember being inspired by Neil Armstrong taking his first steps on the moon twenty years earlier.

And although television is still a vital medium today, it is also stuck in an inevitable quagmire. Digital already generates more ad revenue than television, while more people switch to streaming platforms every day.

Make no mistake – even though there is still plenty of money to be made in television, cable is experiencing a slow death, just like other traditional media channels. It might not yet be reduced to the more niche territory of radio or print, but cable is treading the same path.

The Digital Natives

Why this is the case is very simple math.

Even just six years ago in 2011, the average 18-24 year old millennial consumed about 25 hours of traditional television per week – today, they consume closer to 14 hours.

That said, it’s no surprise that the first generation of digital natives skews heavily towards digital content, but what will be even more interesting is the behavior of the next generation on deck: Gen Z (born in 2000 and onwards). This cohort was born into a world of screens and iPhones, and will not be aware of a prior era. To them, flipping through channels on cable television seems even more antiquated and arbitrary than it does to older generations.

Gen Z watches between two and four hours of YouTube and less than an hour of traditional television per day. They’re also twice more likely to use YouTube than Millennials, and a lot less likely to use Facebook.

– Shireen Jiwan, chief brand experience officer at Lucky Brand

Less than an hour per day is not very conducive to the cable business, especially when there are hundreds of channels in existence today. And while insights on Gen Z are still fluid and evolving, it’s highly doubtful that the generation will do a 360 on video anytime soon.

In the meantime, cable’s survival as a dominant medium rests squarely on the shoulders of older generations. While it works as a business for now, cable can’t fight the demographics forever.

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Ranked: The 20 Biggest Tech Companies by Market Cap

In total, the 20 biggest tech companies are worth over $20 trillion—nearly 18% of the stock market value globally.

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A portion of the top 20 biggest tech companies visualized as bubbles sized by market cap with Apple as the biggest.

Ranked: The 20 Biggest Tech Companies by Market Cap

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The world’s 20 biggest tech companies are worth over $20 trillion in total. To put this in perspective, this is nearly 18% of the stock market value globally.

This graphic shows which companies top the ranks, using data from Companiesmarketcap.com.

A Closer Look at The Top 20

Market capitalization (market cap) measures what a company is worth by taking the current share price and multiplying it by the number of shares outstanding. Here are the biggest tech companies according to their market cap on June 13, 2024.

RankCompanyCountry/RegionMarket Cap
1AppleU.S.$3.3T
2MicrosoftU.S.$3.3T
3NvidiaU.S.$3.2T
4AlphabetU.S.$2.2T
5AmazonU.S.$1.9T
6MetaU.S.$1.3T
7TSMCTaiwan$897B
8BroadcomU.S.$778B
9TeslaU.S.$582B
10TencentChina$453B
11ASMLNetherlands$415B
12OracleU.S.$384B
13SamsungSouth Korea$379B
14NetflixU.S.$281B
15AMDU.S.$258B
16QualcommU.S.$243B
17SAPGermany$225B
18SalesforceU.S.$222B
19PDD Holdings (owns Pinduoduo)China$212B
20AdobeU.S.$206B

Note: PDD Holdings says its headquarters remain in Shanghai, China, and Ireland is used for legal registration for its overseas business.

 

Apple is the largest tech company at the moment, having competed with Microsoft for the top of the leaderboard for many years. The company saw its market cap soar after announcing its generative AI, Apple Intelligence. Analysts believe people will upgrade their devices over the next few years, since the new features are only available on the iPhone 15 Pro or newer.

Microsoft is in second place in the rankings, partly thanks to enthusiasm for its AI software which is already generating revenue. Rising profits also contributed to the company’s value. For the quarter ended March 31, 2024, Microsoft increased its net income by 20% compared to the same quarter last year.

Nvidia follows closely behind with the third-highest market cap, rising more than eight times higher compared to its value at the start of 2023. The company has recently announced higher profits, introduced a higher dividend, and reported that its next-generation GPU chip will start generating revenue later this year.

AI a Driver of the Biggest Tech Companies

It’s clear from the biggest tech companies that involvement in AI can contribute to investor confidence.

Among S&P 500 companies, AI has certainly become a focus topic. In fact, 199 companies cited the term “AI” during their first quarter earnings calls, the highest on record. The companies who mentioned AI the most were Meta (95 times), Nvidia (86 times), and Microsoft (74 times).

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