50% of Homes to Cut Cable by 2022
While it seems like everyone is cutting the cord these days, the majority of U.S. households are still using traditional cable TV.
However, the increasing trend of cord-cutting is no surprise as many cable companies are continuing to lose long time customers. And the pandemic (COVID-19) is not helping their situation.
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COVID-19 has led to record numbers in terms of unemployment, job losses, business closures, etc. and as a result, many individuals have been cutting non-essential expenses such as cable.
One of our recent articles highlighted the fact that the Average U.S. Cable Bill Exceeds $200 Per Month, which is crazy to think about!
Some recent reports from The Convergence Research Group predict that more than 50% of all U.S. households will have completely cut the cord by 2022.
Their reports note the following statistics & predictions:
36% of households didn’t pay for regular TV at the end of 2019
This is predicted to reach 54% in 2022
Cable companies lost over $100 billion in revenue in 2019
Streaming service revenue is expected to grow by 29% in 2020 ($28.5 billion increase)
Due to these increased costs, several cable customers have been turning to cheaper alternatives. This includes streaming services for both Live TV and Movies/TV Shows.
We covered this “boom” in streaming services last weekend in a news article. Check out which streaming services have gained popularity among cord-cutters by clicking the link below.
Streaming Services are Booming Due to COVID-19: Which are Most Popular?
For more information on Live TV alternatives, I suggest viewing our popular IPTV guide.
The weekly KODIFIREIPTVAdvisor keeps everyone up-to-date on the ever-changing world of cord-cutting. Use the link below to join the other 500,000 happy subscribers.
What do you think of COVID-19 hurting cable companies? Have you already cut the cord?
Let us know your thoughts in the comment section below!
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