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A recent study from media Analyst MoffetNathanson shows users of Pay TV Subscriptions have plummeted to the lowest numbers in 30 years.
This includes Cable TV subscribers that still make up the majority of TV viewing.
That number has dropped to 61% of households which is the lowest number we have seen since 1993.
The report comes from MoffettNathanson, who has done numerous studies regarding cord-cutting and its effect on standard television.
This 3rd Quarter study provided insight to the overall decline of Pay TV users as well as the increase in those cutting the cord.
In the US, Pay TV Providers saw a loss of 655,000 subscribers in the 3rd Quarter with over 1 million choosing to cancel their cable plans.
It seems that more and more people are ditching live TV for SVOD services such as Prime Video, Hulu, and Netflix.
This is a trend that transformed due to the Coronavirus Pandemic and was already transitioning prior.
Cord-cutting has changed the game with dozens of Streaming Apps and Services available including APKs for various streaming devices.
According to MoffettNathanson, millions of households already choose to skip pay tv options and that number continues to grow.
There are now about 34 million incremental homes that “exist entirely outside the cable network ecosystem,”… and that the total number is 55 million
Many opt for an OTA Antenna for live, local channels that does not require any subscription and can be found for $30 or less.
It will be interesting to see how this landscape evolves in the future with more and more people diving into the cord-cutting community.
We want to know what you think of the streaming industry and this latest report.
Let us know your thoughts in the comments below!
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