According to a study from MoffetNathanson, a media analyst firm, the number of pay TV subscribers has fallen dramatically. It’s now at its lowest point in three decades.
Even cable TV subscribers, who still account for the bulk of TV viewers, are included in this. This figure has fallen to 61% of households. That’s the lowest it’s been since 1993.
MoffettNathanson, the source of the report, has conducted extensive research on cord-cutting and its impact on traditional television. You can find their site at the link below.
If you’re interested in learning more, you can check out their article that provides further insights on cord cutting. MoffettNathanson Reveals the Reason People Cut the Cord may be Evolving
The third-quarter study shed light on two main things. The first was the general decline in pay TV customers and the second was the rise in cord-cutters.
Pay TV providers in the United States lost 655,000 subscribers in the third quarter. Over a million people decided to discontinue their cable subscriptions.
In the third quarter alone, IPTV services like Vidgo, fubo, Sling TV, and others gained 1.29 million subscribers. This is a significant increase when compared to the same period last year, when only 42,000 were added.
Ditching live TV in favor of Subscription Video on Demand services such as Prime Video, Hulu and Netflix appears to be a rising tendency. This trend began before the Coronavirus Pandemic, but it has accelerated since then.
The landscape of entertainment has been completely transformed by cord-cutting. Dozens of new streaming apps and services are now readily available. That includes APKs that are compatible with various streaming devices.
According to MoffettNathanson, millions of households are already foregoing pay TV, and that number is only going to rise.
Approximately 34 million more homes currently reside “fully outside the cable network ecosystem,”… bringing the grand total to 55 million.
For live local channels, many individuals choose an OTA Antenna. These antennas do not require a monthly fee and are readily available for $30 or less. You can find some suggestions at the link below.
As more and more people enter the cord-cutting world, it will be interesting to watch how this trend develops. In the future, we may see even greater changes.
What do you think of the streaming business and this most recent report? We would love to hear from you.
Please leave your ideas in the comments section below!
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