Yes. I think there's many signs and stats that people are spending more time watching series, reading novels etc.
The interesting part to me is this seemingly paradoxical evolution of the contents getting shorter and more bit-sized, and us consuming more and more of it: if the "risk" associated is lower, people are more willing to give it a chance, and while we can spend 10h binging something, it only happens because we can stop at any moment and go do errands, answer a call, go to sleep when too tired etc. without too much disruption or missing out (at best we just need to rewatch the last 5 min of the previous episode to get back into the plot)
The other side of it being podcasts and audiobooks, who completely bypass the time commitment requirement by being parallel to everyday life.
All of this could happen with traditional media as well. We've all seen people standing in the middle of a movie and just get out, or skimming books, or just giving up after the first 2 chapters, but there was much more of a loss (in money and time) and it was socially thrown upon to a point I still have a hard time to understand.