The majority of Americans, around 56%, now think cable TV has become unaffordable according to a new Hollywood Reporter/Morning Consult poll, while only 17% found streaming unaffordable.
The sample size of said survey was not indicated, but according to their poll around 90% of Americans say that the most important factor when deciding to subscribe to a TV or streaming service is cost, and as a result cable companies are losing customers quickly.
The most recent quarter saw DirecTV losing 346,000 customers and Comcast dropping over 100,000. In 2015 there were 205.4 million subscribers to cable TV, that’s expected to fall to 169.7 million by 2022.
More importantly 72% of those who have cut the cord and have no cable TV have little or no interest in resubscribing. In addition the rise of video games, social media and short-form YouTube content means younger crowds are spending fewer hours watching TV – be it via cable OR streaming.
Analysts for the poll add: “a point of saturation is coming where subscribers won’t pay for numerous streaming services to get the content they’re already used to getting now.”