Online Streams Are Destroying Cable TV and These 3 Stats Prove It
Cord-cutting isn’t just a hypothetical dream anymore. It’s happening all over the country and the numbers are accelerating at speeds no one could have foreseen or predicted. The new age of online streaming is already here and it’s here to stay.
Need some hard proof? Keep reading.
1. Netflix is still growing — significantly. In Q1 of 2015, Netflix’s membership grew by 4.9 million subscribers. In the quarter before that, membership grew by 4.0 million subscribers. In total, Netflix now has over 62 million users all over the world (and 40 million of those users in the U.S.).
It’s not so surprising when you consider that most users think Netflix has the best online streaming content and that their pricing is extremely fair.
2. Pay TV subscription rates are dropping like flies. In Q2 of 2015, the pay TV industry (which includes cable, satellite, and telco TV) lost a total of 566,000 subscribers. Compare that to Q2 of 2014 when they’d lost a total of 321,000 subscribers. The attrition rate is increasing at alarming speeds.
And it’s made worse when you realize that Q2 is usually the most stable quarter for the Pay TV industry. Ouch. It’s time to start switching over to these alternative streaming channels .
3. Almost every single age group is watching less TV. In Q2 of 2015, the only age groups to watch more TV in a month were 50 to 64 and 65+ — which means that people between the ages of 2 to 49 all watched less TV.
According to the same report, there viewers are actually spending more time watching entertainment, but their time is spent on sites like Netflix, Twitch, and YouTube.
Want to slash your household expenses ? Start by cutting the cable cord now. You’ll be surprised by how much money you’ll end up saving.
What will it take for you to cut the cord? Have you already? Share with us in the comments below!