When did you last watch traditional TV? If you don’t have an immediate answer, then it’s a while since you did, and that’s not surprising! Maybe you’re one of those that don’t have cable TV at home, or watching Netflix works for you. Today, the number of people renouncing traditional TV, a trend many refer to as cord cutting, is rising. This article explores the depths of cord cutting statistics.
About 33 Million Americans Shunned Pay-TV in 2018
In 2018, 33 million Americans cut the cord compared to 24.9 million in 2017, according to Tech Crunch. In 2018, about 18.8 percent of pay-TV subscribers in the US were planning on cutting the cord. Similarly, in 2016, there were 16.7 million cord cutters in the US, a number that is expected to increase to 40.1 million by 2021. Some of the subscribers cutting the cord say it’s the best decision they’ve ever made in their lives. They cite the high price of pay-TV as the main reason they did it.
Cable TV Loses 14,000 Subscribers Daily
In 2018, the US’s share of cord cutters was 25 percent. According to BGR, the cord cutting trend has increased by eight percent in the last eight years. For instance, in the first quarter of 2019, AT&T lost 625,000 subscribers. Interesting cord cutting statistics here, isn’t it?
Over 1.3 Million US Cable TV Subscribers Cut the Cord in Early 2019
In the first quarter of 2019, American cable TV providers lost about 1.325 million subscribers. The satellite TV market lost 810,000 subscribers in the same period. Broadband News Broad reports that during the same period, top phone providers experienced a 105,000 loss of video subscribers. About 37.9 percent cite the advancement of internet streaming as the main reason for switching from satellite or pay-TV.
A Third of American Households Does not Subscribe to Pay-TV
In other interesting cord cutting statistics, Forbes reports that one out of three US households does not pay for cable TV. Further, the average monthly pay-TV bill for a subscriber in the US is about $100. Consequently, by ditching pay-TV, each subscriber could save $1200 a year. In the last quarter of 2017, 5.7 percent of subscribers in North America were planning to ditch pay-TV for an online TV app.
Comcast had 22 million Subscribers in 2018
In the last quarter of 2018, Comcast, America’s biggest pay-TV service provider, had only 22 million subscribers left, according to Statistica. In the same year, Statistica further records, there was a six percent increase in cord cutters in the US. About 90 percent of Americans aged between 25 and 34 watch TV online.
186.7 Million Watched Pay-TV
Only 186.7 million people watched satellite or cable TV in America in 2018. According to Tech Crunch, 56 percent of American pay-TV users were considering cord cutting in 2017. About 86.7 percent of these subscribers found satellite and cable TV services too expensive. Further, 64.5 percent of those who view digital videos in the US watch Netflix at least once every month.
Pay-TV Penetration in the US Stood at 78 Percent in 2018
Statistica reports that pay-TV penetration in the US was at 78 percent in 2018. Further, 25 percent of sports events are viewed online. In the same year, only 83 million households in the US still subscribed to satellite or pay-TV. Statistica further reported a 48 percent increase in cord cutting in the past eight years.
About 55.1 Percent of Americans Will Have Cut the Cord by 2022
According to Tech Crunch’s cord cutting statistics, 55.1 percent of Americans will have cut the code by 2022. Further, US SVoD revenue amounted to $7.36 billion in 2018. In 2016, 60 percent of video streamers were Generation Xers, Generation Zers, and Millenials. Similarly, 73 percent of video service subscribers watched TV series.
It could be a challenge cancelling your high-priced satellite or cable TV contract. However, more and more people are nowadays choosing this step and switching to streaming TV. The above cord cutting statistics are a clear indication that the future ahead is for streaming TV.