The cord-cutter population is growing. From millennials, Gen Z, and even some Baby boomers are cutting their cable cords!
This year, the number of cord-cutters is to reach 39.3 million. eMarketer, forecasted that the number of cord-cutter households will increase 17.8%, this year.
On the other hand, traditional TV US households are to decrease by 3%. This year, traditional TV is to account for 87.9 million US households. While the forecasts for cord-cutting is excellent; traditional TV will still outnumber it.
This does not mean it is all peachy for traditional TV.
Cable and satellite providers have their work cut out for them. While cord-cutters continues to change the industry, cable and satellite are losing viewership. Not to mention, advertisers are not able to reach as large of an audience as they once did.
One analogy we use in our office is to think of the newspaper industry. When digital came to be, the newspaper industry slowly declined. Linear TV is facing the same fate with streaming.
In March, OpenX and Harris Poll took a survey of cord-cutters. The survey determined that 52% of the 528 cord-cutters surveyed do not miss anything about cable or satellite TV.
What do cord-cutters miss?
Those who were surveyed said that they miss live events, news, and sports. Although, we expect that to change.
A handful of OTT providers have added this content to their subscription lineup.
Dallas Lawrence, the chief communications and brand officer at OpenX was quoted by eMarketer on the matter. “Cord-cutters are reacting to the fact that they do not like being forced to pay for channels they do not watch – and they do not like being restricted by device, time or place to access their programs.”