PricewaterhouseCoopers has released a new report on the rise of streaming as well as the decline of cable television among consumers and determined that Netflix base of subscribers is now equaling that of cable TV.
2,000 people were interviewed for the report with 73% saying they subscribe to a traditional pay TV package, while 73% of the same sample said that they subscribe to Netflix. Additionally, 46% of those who responded said they had shed pay TV accounts in 2017 in favor of either cord-cutting entirely or trimming certain accounts.
The results are matched by another recent report which pegs Netflix at having 50.85 million U.S. domestic subscribers, whereas cable across multiple companies has a combined install base of 48.61 million subscribers in the same period.
Don’t think streaming is just for the under 40 set either as 50-somethings saw a 15% jump in streaming usage with 63% of respondents in that age subscribing to a streaming service.
There is however a limit to the number of streaming services users will spend on per month and it seems to be in the three to four range. The study says “just a quarter of consumers say they can handle using more than four services in addition to Pay TV.”
Source: The Wrap