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More and more viewers are opting for less expensive streaming packages. But Alphabet's YouTube (GOOG, GOOGL) has succeeded by imitating what consumers seem to be abandoning.

YouTube TV, an internet pay-TV service that allows viewers to watch live channels and access local broadcast networks like ABC, CBS, FOX, and NBC, first launched in 2017. Since then, its breadth of content and price tag of just over $70 per month has appealed to consumers looking for a cheaper alternative to cable packages.

"We've heard from our users that they want to be able to watch all of their favorite content in one place, and they want to be able to take care of all of their subscriptions in one place," Christian Oestlien, associate vice president of agriculture for product management at YouTube, told Yahoo Finance." It's a bit of a tired subscription."

According to Nielsen's latest TV ratings report, YouTube (which also includes the main digital platform) was the most watched streaming service on TV screens for the 13th consecutive month in February.

In total, YouTube's share of total U.S. TV viewership jumped from 7.91 TP3T a year ago to a platform-high 9.31 TP3T. YouTube also grew significantly compared to Netflix's market share of 7.81 TP3T.

Broadcast and cable reception continues to decline year over year, accounting for 50.91 TP3T of total cable reception, down from 541 TP3T in February 2023, as a result of carriers.

Given the fragmented media landscape, this is a huge feat for YouTube.

According to Deloitte's latest Digital Media Trends Report, the average U.S. consumer subscribes to four streaming media services per month, costing approximately $61. In addition, 68% of consumers surveyed pay for a subscription or live streaming program to watch channels not available on streaming media.

YouTube TV capitalizes on this need.

The platform recently surpassed 8 million subscribers at $72.99 per month, making it the largest pay-TV streaming platform on the market. Disney's Hulu + Live TV (DIS), which costs $76.99 per month, is the next closest competitor, with 4.6 million subscribers in the quarter ended December 30th.

Viral Content Creator." I think this resonates with consumers.

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