Viewing TV over the Internet (usually called "streaming") is quite a paradigm shift, I think. Depending how widely available Internet broadband is, in a country, I think you can assume that streaming displaces all other methods of TV viewing, if people have easy access to broadband links to the Internet.
TV viewing can be real time or on demand, making it much more convenient. But also, it is not limited to just so many channels of video, limited by the bandwidth of the broadcast medium (such as satellite, cable, or terrestrial broadcast). So that instead of a choice limited to dozens or even more than one hundred simultaneous real-time transmissions, with streaming, the choice of programming is essentially unlimited.
"The impact over TV viewing," however, might be interpreted as asking whether people end up watching more TV? This article from Nielsen suggests that in the US, TV viewing time remains the same, but that streaming is taking away the popularity of other TV distribution media.
Aside from the shifting viewership shares, total TV usage during the month was virtually identical to that of June, as well as July 2021. The trends continue to highlight that with other variables held constant, Americans are expanding their streaming consumption and the platforms that they use.
This would certainly describe my own TV viewing. I started streaming TV in 2006, but only, back then, to catch up on shows I might have missed. TV networks in the US began this Internet service, back then. Otherwise, I used a PVR to record shows and view them later.
But then in 2009, I dedicated a PC to the TV set and audio system. At that point, it seemed pointless to record shows. I began streaming all my radio and TV. Without, however, having any extra time available to just watch TV. And now, instead of using shortwave radio to listen to the BBC or other European radio, I use that same PC. The European programs sound just as good as any local FM station. Amazing, eh?
Modern HDTV sets work perfectly well a giant PC monitor. Watching TV from the Internet does not mean it has to be viewed close up to a monitor. Plus, people can buy TVs with Internet connections built-in these days, as well as small boxes specifically designed for streaming programs to the TV set. And radio programming over the Internet is usually of excellent quality, if played over a decent audio system. Sounds the same as CDs or good FM radio.
Complete paradigm shift, if you ask me. The essential ingredient has to be broadband Internet access, however.