According to Nielsen’s monthly “The Gauge” report, streaming TV viewership in the U.S. has surpassed the combined total for broadcast and cable.

The inevitable shift: In May, streaming captured a record of 44.8% of all television usage, edging out the 44.2% held by traditional linear platforms and cementing a fundamental shift in media consumption. This milestone has been building for years. Since Nielsen began tracking these metrics in 2021, streaming usage has skyrocketed by 71%. Over the same four-year period, broadcast viewership fell by 21% and cable plummeted by 39% as cord-cutting continues to accelerate.

Kings of the stream: The report confirmed that YouTube is the undisputed leader, single-handedly accounting for 12.5% of all TV time. Netflix remains the top premium service at 7.5%, but the real story is the rise of free, ad-supported television (FAST). Services like PlutoTV, Roku Channel, and Tubi now command a combined nearly 6% share of viewership, a larger audience than any single broadcast network.

A temporary crown?: While the trend is clear, Nielsen CEO Karthik Rao notes that media companies have "deftly adapted their programming strategies" across platforms. The company cautions the balance could temporarily tip back toward traditional TV this fall with the return of the NFL season and new broadcast shows, which have historically bolstered linear viewership.

The bottom line: Even if the numbers seesaw in the coming months, this inflection point marks a psychological victory for streaming. The question is no longer if streaming will dominate, but how legacy media will continue to evolve in a world where it is no longer the default. As streaming hits maturity, its biggest players are already looking ahead. Netflix’s co-CEO has outlined the company's ambitions to grow beyond streaming as it chases a trillion-dollar valuation. Meanwhile, the industry’s business models continue to evolve, with Nielsen launching a new measurement tool to specifically track the booming ad-supported streaming landscape.

Reading Recap:

• Read Nielsen's official announcement on the milestone

• Why this milestone took longer than some expected