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94% of self-isolating families own at least one streaming subscription: Poll

Streaming platforms are benefiting from coronavirus lockdown orders — and quarantined families may be contributing most to the boom. Yahoo Finance's Alexandra Canal breaks down the latest.

Video Transcript

ZACK GUZMAN: We continue to see more of Americans consuming entertainment at home throughout this coronavirus lockdown as more states move to reopen the economy, whether or not that will stay the case. For more on that, I want to bring on Alexandra Canal, who joins us right now in this week's Fame and Fortune. And Ali, when we look at it clearly, it's not just Netflix here. We've been talking about this for a while. It might be that it's benefiting more names than just Netflix.

ALEXANDRA CANAL: Yeah, Zack, so there's no denying that this pandemic is tilting in the favor of streamers. But according to new research by Hub Entertainment, those families that are quarantining with kids, they are stuck at home, cannot get to school due to this pandemic. They could be leading this streaming boom and contributing to it even more. So according to the data, 94% of quarantined families with children own at least one over-the-top streaming platform, like a Netflix, a Disney Plus, Amazon, or Hulu.

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We see that number dip slightly for those that are self isolating without kids to 82% and then fall even more with those that aren't stop isolating at all and do not have kids at 61%. Now to put all these numbers in perspective out of all the 2020 respondents, 78% said they own at least one streaming device. That's up six percentage points from 2019. So although streaming is continuing to see year over year growth, there's no denying that these stay at home measures are contributing to increased levels of interest that are then translating into purchases.

So if we take a look at the platforms that did very well in this study, especially amongst those families with children, we'll see Netflix leading the way at 83%. That's followed by Amazon Prime Video, Disney Plus, and then Hulu. And I want to give a shout out to Disney Plus, because they are not too far behind Amazon Prime. And that's pretty impressive considering that they first entered the streaming wars in November, but I do want to zone in on Hulu. Because not only are they struggling in this survey.

But according to a separate study by 7Park Data, Hulu just seems to be lagging behind its competitors, and we'll see in this new study that Netflix, once again, dominates the fields with the average American household saying they spent 50% more time on the platform in April compared to January. So quarantine just seems to be doing great things for Netflix. That's largely driven by their great original programs, like Ozark, as well as their classic shows, like The Office. We'll see Amazon Prime, once again, in that second spot, and that's largely due to their originals.

So I think what we're seeing with all this data, all these platforms is that consumers are really gravitating towards those services that provide a wide range of content, and that doesn't only have to do with originals. It also has to deal with those family friendly titles, as well as this classic nostalgic shows from the past that seem to be bringing people comfort during these uncertain times. I know I certainly fall in that camp. I'm re-watching the entire series of Gilmore Girls on Netflix right now, which is helping me through this quarantine. But during this time, the numbers just really seem to speak for themselves.

ZACK GUZMAN: Classic that Gilmore Girls, isn't it? When we look at the overall numbers, too, though, I mean, that would speak to your point. Apple TV joining Hulu when you look at that 7Park Data to see a dip in April over March, but it's not just that. To your point, I mean, content, people getting desperate out there as you got Peacock coming out, HBO Max, a lot of things to watch outside of just the names that you mentioned. HBO Max turning to Selena Gomez here to try and cook up some interesting content.

ALEXANDRA CANAL: Yes, Selena Gomez is teaming up with HBO Max for a new quarantine cooking show to debut this summer, and this just goes to show how creative these streamers are getting to drum up content during this time we have lockdowns throughout the nation, as well as the world. So you really need to get those creative juices flowing in order to get new content to these platforms, and let's not forget. HBO Max, their number one project, that thing that they kept touting was that big Friends reunion show.

And unfortunately, because of the coronavirus, that project is now on hold for the foreseeable future. So they needed something else. They needed a big name to really generate some buzz leading up to their launch later this month, and who better than Selena Gomez? She's going to be joined by a different MasterChef cooking up different cuisines, sharing tips and tricks.

I'm sure we're going to be getting a few banana bread recipes since that seems to be the quarantine comfort food of choice here. But honestly, this is what people are doing during this time, especially celebrities on social media. So I think it's great that HBO Max really saw this trend, jumped on the opportunity to create content here with Selena Gomez. Zack, I know you've been cooking up a ton of things on your Instagram, so I think we should probably hit up Selena to have you on this show. I think that could be a good match.

ZACK GUZMAN: Yeah, I think she could learn a few things from my cooking skills.

ALEXANDRA CANAL: [INAUDIBLE].

ZACK GUZMAN: We'll see if vice versa holds up. We'll see how it all plays out, but Alexandra Canal highlighting that the streaming space. I appreciate you bringing us that.