Media Stock Insights from Nielsen’s July-25 TV Snapshot
YouTube reaches new all-time highs
Nielsen is out with its July 2025 Gauge report, exploring what Americans are watching on their big screen televisions (excluding mobile devices). YouTube is again #1 with a new all-time high of 13.4% of all TV viewing in America. I’ve been reporting on YouTube’s rise all year. Check out past monthly updates here: June, May, April, March, Feb and Jan of this year. Here are the key takeaways from the July report…
1) YouTube ($GOOGL) continued at #1, with a new all-time high TV viewing share
I cannot overstate this: YouTube is consistently stealing TV viewing share from other media companies. For two consecutive months, including July, YouTube (13.4%) has set new platform records, echoing its performance in June.
YouTube's ascent to new heights is particularly remarkable given the absence of major sporting events, television shows, or movies. While it's tempting to attribute YouTube's summer growth to the off-season for football and other major sports, this doesn't fully explain its +29% YoY growth compared to last summer.
I want to emphasize to readers that my monthly reports on YouTube TV viewing trends are crucial for understanding the bullish argument for owning Google stock. As highlighted in my Google Q2-25 Earnings Recap last month, YouTube's revenue growth remains a key factor in my positive outlook on the company.
2) Netflix ($NFLX) was #2 with 8.8% share
Netflix growth accelerated this month, with July viewing share +5% vs. last year.
NFLX’s 8.8% was a new all-time high for the platform, demonstrating that its only real competitor for TV viewing share is YouTube.
Unlike YouTube, NFLX growth is highly correlated to the number of new releases they put out each month. For July NFLX had 8 of July’s Top 10 streaming titles.
#1 Squid Games, #3 Blindspot, #4 Untamed, #5 Animal Kingdom, #7 KPop Demon Hunters, #8 Sullivan’s Crossing, #9 Happy Gilmore 2, #10 Grey’s Anatomy
If you want a breakdown on specific show ratings, I suggest you check out Nielsen’s blog where they deconstruct their full Gauge report.
However, as I warned last month, NFLX appears to have a bit of a ceiling around 9% of TV viewing. I wonder what it will finally take for them to break 9% and consistently go higher from there. With college and professional football just around the corner, it will be interesting to see what Netflix viewing share is like in the fall.
3) Prime Video ($AMZN) was #4 with 3.8% share
Prime Video continues to have an impressive 3.8% share, which is up +12% vs. last year. As I said last month, I still think all the focus on the streaming wars has Amazon ($AMZN) underrated by investors in terms of the impact the company has on the streaming video market.
In the upcoming 2025/2026 season, Amazon will have NBA games in a major way. We will monitor how viewing trends once the season starts.
4) Tubi ($FOX / $FOXA) was #6 with 2.2% share
Tubi's maintained a respectable 2.2% share for the month of July
I still believe that $FOX is an attractive investment due to its 100% ownership of Tubi. Investors will come to realize this more in the coming quarters.
CONCLUSION
This July report largely mirrored previous trends. Streaming now accounts for 47% of TV viewership, and it's only a matter of time before it surpasses the 50% mark. I will continue to emphasize YouTube's significance, as media investors must grasp the challenge other services face in securing advertising revenue when YouTube and Netflix dominate consumers' leisure time.
-Accrued Interest
Disclaimer: The information presented in this Substack is for educational purposes and should not be construed as investment advice. Investors should make their own decisions regarding the prospects of any company discussed here, as I am not a registered investment advisor.
You can always reach me at simeon@accruedint.com.