800,000 Estimated to Cut the Cord in the Next 12 Months, Could Cost TV Industry $998 Million

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These days, it’s become pretty easy to find content online. As such, more and more people are canceling their Paid-TV subscriptions or in other words, cutting the cord. This of course should be pretty nerve wracking for the Paid-TV industry although with the exception of a few providers, most continue to reject the notion that streamed, on demand TV will be the way of the future.

Hopefully this new report changes their mind.

According to the new report from management consulting firm cg42, 800,000 customers of traditional Paid-TV providers will “cut the cord” this year, resulting in a possible loss of $998 million for the industry. This report, based an online survey of 1,119 US customers project that each customer will save an average of approximately $104 per month, or $1,248 annually by cutting the cord.

Unsurprisingly, the top streaming services being used by the sampled group is led by Netflix and YouTube followed by Amazon Prime and Hulu. The top reasons for cutting the cord or never subscribing to Paid-TV services in the first place include high prices, having to pay for unwatched/unwanted channels, being nickled and dimed by Paid-TV companies, and being able to watch content at any time. An estimated 84% of cord cutters are happy with their decision and only 2% plan to return to Paid-TV.

Has anyone here cut the cord recently? Do you regret your decision? Let us know in the comments below!

 

Source: cg42

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