Will the era of TV end in the near future?
This is the question hovering on many people’s minds now, and that’s why we have brought some hardcore statistics to answer this question.
Did you know nearly 30% of U.S. customers cut the cord of their cable TVs in 2021? Even 90% of young people prefer watching TV content through the internet.
We know you can always download movies and music from the pirate bay, but does that mean, future generations won’t know what a TV is. We will explore its details, but click here if you want to find out more about the pirate bay.
Is Cable TV Dead?-5 Cord Cutting Statistics
The decline of cable TV has become a prominent event in the last few years because we all can access TV content through the internet. It’s clear that internet TV is winning nowadays, so let’s find out some cord-cutting statistics here:
1: Hulu With Live TV Is The Most Common TV Replacement
As you know, many people with cable TV subscriptions are turning towards streaming TV applications. To prove this prediction, the cord-cutting market of Hulu Has Made a commendable presence.
It has gathered 3 million subscribers in the live internet TV service.
Hulu and even Disney Plus also gained 54.5 million just after 6 months of its launch. It proves that cord-cutting TV services are declining every day.
2: The Number Of Paid U.S. Subscriptions Has Dropped
The evident decline of cable TV services became more apparent when the Satellite TV services published their final quarter earnings. The statistics show that the number of U.S. paid subscriptions has dropped 2.7 million, which is probably the highest one in history.
Since 2015, the number of TV paid subscriptions has dropped, and it clearly shows that internet TV is winning.
Even 44% of Americans also discontinued their satellite TV subscriptions. Hence, the myth of cable TV being dead is gradually coming true.
3: In 2021, Only 56% of Americans Watched Live TV
The percentage of Americans watching cable TV has dropped drastically in 2021, i.e., by 20%. Research shows only 56% of U.S. citizens have watched cable TV this year. It also shows that 60% of the cord-cutters were regular cable TV subscribers at some point.
It reflects that cable TV channels have lost more than half of their loyal audience.
However, research also shows a positive note at the end of the horizon. It is surveyed that 71% of customers who currently own cable TV subscriptions have no intention of canceling it as well.
It means cable TV may come back soon in the market.
4: Cable And Satellite TV Penetration Will Fall By 26% In 2030
According to the 2017 research report published by the research and advisory company, The Diffusion Group, cable TV subscriptions will fall by 56% in 2030.
If you consider the rise of virtual multichannel video programming distributors, you may see how this prediction comes true.
If the percentage of traditional TV services drops by 60%, it’s a 36% decline from the number it had in 2017, which was 81%. Thus, the cable TV statistics will change significantly in the future if the statistics keep on going in this manner.
5: The Number Of Cord-Cutters Will Reach 55.1 Million By 2022
According to the e-Marketer, 9.8% of U.S. adults have already canceled their TV subscription. Take a look at the 2018 statistics of the same research company that shows a sharp 12.9% decline in the percentage of cord-cutters.
It means the number of people who canceled their cable TV subscriptions is approximately 33 million. In addition, another 15.9 million people are predicted to cut their TV cords by the end of 2021.
That means a total of 50 million cord-cutters will hit the cable TV industry so hard that it will be challenging to recover from it.
If you look at these cord-cutting statistics, you will see how the business industry of cable or satellite TV is witnessing such a sharp decline. Therefore, if you are stuck in the dilemma of preferring cable TV or streaming TV, you may make an informed decision of switching to one of these. Now, if you have any other questions on this topic, you can post them in the comment box. We will get back to you with an answer.