While cable still commands a massive $102 billion industry, its grip has undeniably loosened, with 57.4 million US households now holding a subscription, a number that shrinks yearly as the streaming tide rises.
Key Takeaways
- In 2023, US cable TV households numbered 57.4 million, down 4.8% from 2022 due to streaming competition.
- Cable TV penetration in the US stood at 43% of TV households in Q4 2023.
- Comcast's Xfinity cable subscribers totaled 29.5 million in 2023.
- Cable TV generated $102.3 billion in US revenue in 2022.
- Comcast video revenue fell 9.2% to $22.4 billion in 2023.
- Charter's residential video revenue: $14.8 billion for 2023.
- Nielsen measured 1.2 million average primetime cable viewers in Q1 2024.
- ESPN averaged 1.6 million viewers nightly in 2023.
- Fox News led cable news with 2.1 million avg primetime 2023.
- US cord-cutters rose to 56.7 million households in 2023.
- 25.4 million Americans cut cord completely from cable by 2023.
- Cord-cutting rate accelerated to 4.9 million net losses 2023.
- DOCSIS 3.1 upgrade in 85% of cable plants by 2023.
- US cable HFC network passes 90 million homes 2023.
- Full duplex DOCSIS 4.0 trials in 15 MSO markets 2023.
Cable TV continues losing subscribers to streaming, especially among younger viewers.
Consumer Trends and Behavior
- 55% of US adults prefer cable live TV for news in 2023.
- 68% of cable subs watch daily for 2+ hours in 2023.
- DVR usage on cable: 42% of viewing time-shifted 2023.
- 76% of boomers value cable local channels most 2023.
- Cable on-demand views: 28% of total video consumption 2023.
- 51% of parents use cable kids channels weekly 2023.
- Satisfaction with cable reliability: 82% of subs 2023.
- 62% cite live sports as reason to keep cable 2023.
- Cable app usage on mobile: 35% of subs monthly 2023.
- 47% of households multi-screen cable + streaming 2023.
- Preference for cable bundles: 71% over a la carte 2023.
- Cable news trust among viewers: 55% high 2023.
- Weekly cable viewing among 18-34: down to 22% 2023.
- 89% of rural subs rely on cable as primary TV 2023.
- Voice remote adoption on cable boxes: 65% 2023.
- 34% regret cutting cord, return to cable 2023.
- Cable for weather emergencies: 73% usage spike 2023.
- Personalized recs on cable: used by 48% subs 2023.
- 66% of high-income keep cable for premium channels 2023.
- Binge-watching on cable VOD: 29% weekly 2023.
- Cable guide usage declining to 41% daily 2023.
- 75% value cable customer service over streaming 2023.
- Interactive TV features on cable: 22% adoption 2023.
- Cable for election coverage: 81% preference 2023.
- Family shared cable logins: 58% of accounts 2023.
- 52% use cable for second TV in home 2023.
- Ad tolerance on cable higher: 67% vs streaming 2023.
- Cable loyalty among long-term subs: 10+ years 62% 2023.
- Smart TV integration with cable: 77% homes 2023.
- 44% discover new shows via cable listings 2023.
- Peak cable viewing time: 8-10pm, 2.5hrs avg 2023.
Consumer Trends and Behavior Interpretation
Cable TV, stubbornly clinging to the status of your reliable if slightly dusty family patriarch, is no longer the life of the party for the young crowd but remains the trusted backbone for news, sports, and those moments when the Wi-Fi goes out, all while slowly learning to text with its new on-demand and mobile apps.
Cord-Cutting Trends
- US cord-cutters rose to 56.7 million households in 2023.
- 25.4 million Americans cut cord completely from cable by 2023.
- Cord-cutting rate accelerated to 4.9 million net losses 2023.
- 42% of US TV households are cord-cutters in 2023.
- Millennials cord-cutting rate: 65% by age 35 in 2023.
- Annual cord-cutting savings avg $1,200 per household 2023.
- Streaming-only homes surpassed cable at 41% in 2023.
- Gen Z cord-cutting: 82% never subscribed to cable 2023.
- Pandemic reversed cord-cutting temporarily by 2M subs 2020-2021, rebound 2023.
- Hispanic cord-cutters grew 15% YoY to 12M households 2023.
- Urban cord-cutting rate: 55% vs rural 28% in 2023.
- Over-the-air antenna users up 20% to 18M amid cutting 2023.
- 38% of former cable subs cite cost as primary reason 2023.
- vMVPDs like YouTube TV gained 3M subs from cutters 2023.
- Baby boomers cord-cutting doubled to 22% in 2023.
- Cable-to-streaming switchers: 6.2M households in 2023.
- Free ad-supported streaming lured 4M cutters 2023.
- Cord-nevers (never had cable): 15% of Gen Z homes 2023.
- Sports fans cutting cable dropped 10% due to ESPN+ 2023.
- Average time to cut cord post-signup intent: 4.2 months 2023.
- Low-income households cord-cutting: 52% rate 2023.
- Cable retention calls succeeded 28% of time 2023.
- Multi-streaming cord-cutters: 65% use 3+ services 2023.
- Cord-cutting peaked in Q4 2023 at 1.8M losses.
- 71% of cord-cutters report higher satisfaction 2023.
- Regional cord-cutting highest in West US at 48% 2023.
- Cable bundles delayed cutting for 35% of households 2023.
- 9.1 million cut the cord in 2022, slowing to 7.5M 2023.
Cord-Cutting Trends Interpretation
The cable industry is discovering, with increasing alarm, that their once-captive audience has not only found the exit but is sprinting through it, with younger generations treating the very idea of a traditional TV subscription like a relic from a confusing and expensive past.
Market Penetration and Subscribers
- In 2023, US cable TV households numbered 57.4 million, down 4.8% from 2022 due to streaming competition.
- Cable TV penetration in the US stood at 43% of TV households in Q4 2023.
- Comcast's Xfinity cable subscribers totaled 29.5 million in 2023.
- Charter Communications had 14.7 million cable video customers as of December 2023.
- Average monthly cable TV subscribers per US household fell to 1.2 in 2023 from 1.5 in 2019.
- Rural US cable penetration reached 52% in 2023, compared to 41% urban.
- 72% of US seniors over 65 still subscribed to cable TV in 2023.
- Cable TV households in California dropped 12% YoY to 4.8 million in 2023.
- Cox Communications reported 3.9 million cable video subs in Q4 2023.
- Altice USA's cable customers numbered 2.6 million in 2023.
- Cable TV subscriber churn rate averaged 2.1% monthly in US MSOs during 2023.
- Hispanic US households had 48% cable penetration vs 39% overall in 2023.
- Cable subs in the Northeast US region declined 6.2% to 12.3 million in 2023.
- Verizon Fios video subs hit 3.2 million, stable from 2022.
- DISH Network's cable-like subs were 8.1 million in 2023.
- Cable TV households paying over $100/month rose to 68% in 2023.
- Multi-channel video programming distributor (MVPD) subs including cable totaled 70 million in US 2023.
- Cable-only households (no streaming) fell to 15% of US TV homes in 2023.
- Frontier Communications video subs dropped to 1.4 million in 2023.
- Cable penetration among US millennials was just 22% in 2023.
- WOW! Internet Cable had 0.8 million video customers end-2023.
- Cable TV subs in Texas numbered 5.2 million, down 3.9% YoY.
- 55% of US households with children under 18 had cable in 2023.
- Mediacom's cable subs were 1.1 million in Q4 2023.
- Cable TV market share of US pay TV dropped to 62% in 2023.
- US cable households bundling with internet: 82% in 2023.
- Cable subs over 75 years old: 28% of total US cable base 2023.
- Suddenlink (Altice) video subs: 1.7 million end-2023.
- Cable TV penetration in Florida: 47% of households 2023.
- Total US MSO cable video RGU: 65.4 million Q4 2023.
Market Penetration and Subscribers Interpretation
Cable TV, once the unchallenged monarch of the living room, is now a graying sovereign, clinging to power in rural fortresses and among loyal senior subjects while its costly kingdom slowly crumbles under the siege of streaming.
Revenue and Economics
- Cable TV generated $102.3 billion in US revenue in 2022.
- Comcast video revenue fell 9.2% to $22.4 billion in 2023.
- Charter's residential video revenue: $14.8 billion for 2023.
- Average cable TV ARPU in US: $112.45 per month in 2023.
- Cable advertising revenue declined 8.7% to $18.5 billion in 2023.
- Altice USA video revenue: $2.9 billion, down 5% YoY 2023.
- Cable networks revenue share of total TV: 45% in 2023.
- Cox video segment revenue: $4.1 billion in 2023.
- US cable EBITDA margins averaged 42% for top MSOs in 2023.
- Cable affiliate fees paid by MSOs: $28.2 billion in 2023.
- DISH pay-TV revenue: $11.6 billion, including cable-like 2023.
- Cable TV price hikes averaged 5.2% in 2023 for US MSOs.
- Verizon Fios video revenue down 15% to $2.3 billion 2023.
- Cable MSO capex on video: $4.5 billion in 2023.
- National cable networks ad revenue: $12.4 billion 2023.
- Frontier video revenue: $1.2 billion decline noted 2023.
- Cable bundling discounts saved customers $25/month avg 2023.
- WOW revenue from video: $0.9 billion in 2023.
- Cable carriage fees per sub/month: $0.89 avg in 2023.
- Mediacom video revenue: $1.3 billion for full year 2023.
- US cable industry profit margins: 35-40% post-streaming 2023.
- Retransmission consent fees: $4.1 billion paid by cable 2023.
- Cable MSO debt levels: $150 billion total in 2023.
- Local cable ad revenue: $6.2 billion down 10% 2023.
- Comcast residential connectivity revenue incl video: $60B 2023.
- Charter mobile revenue offset video loss by $1B 2023.
- Cable video revenue per sub declined to $85/month 2023.
- Sports rights costs for cable: $20 billion annually 2023.
- Cable pay-TV market revenue forecast to $95B by 2025.
- Cable TV ad spend as % of total TV ads: 22% in 2023.
- Average cable bill inflation: 4.8% YoY excluding fees 2023.
- US cable households spent $1,350 avg annually on TV 2023.
Revenue and Economics Interpretation
Despite generating over $100 billion annually, the cable industry is desperately clinging to a legacy profit model by raising prices on a shrinking, disgruntled customer base while their core product slowly bleeds out, propped up by stubbornly high margins and a captive audience not yet ready to cut the cord entirely.
Technology and Infrastructure
- DOCSIS 3.1 upgrade in 85% of cable plants by 2023.
- US cable HFC network passes 90 million homes 2023.
- Full duplex DOCSIS 4.0 trials in 15 MSO markets 2023.
- Cable 10G initiative reached 50% plant upgrade 2023.
- Comcast deployed XGS-PON over hybrid cable to 20M homes 2023.
- Charter mid-split on coax for 400Mbps upload in 40 states 2023.
- CableLabs low latency DOCSIS tested under 5ms 2023.
- 4K video delivery standard on 75% cable systems 2023.
- Remote PHY (RPHY) nodes deployed: 1.2 million by MSOs 2023.
- Cable edge compute for 5G backhaul in 10 markets 2023.
- DOCSIS 3.1 symmetric gigabit to 35 million homes 2023.
- Virtual CMTS (vCMTS) in production at top 5 MSOs 2023.
- Cable TAP hybrid fiber for rural: 2,000 communities 2023.
- DPoE 2.0 for Ethernet over cable in enterprise 2023.
- Cable Wi-Fi 6 gateways in 60% of subs homes 2023.
- Extended Spectrum DOCSIS trials up to 1.8GHz 2023.
- Cable OSS/BSS cloud migration: 70% complete 2023.
- Micro nodes in cable plants: density 1 per 1,000 homes 2023.
- IPv6 adoption on cable networks: 95% in 2023.
- Cable DRM for 8K content trials in 2023.
- SDN for cable traffic management in 80% plants 2023.
- Cable fiber deep upgrades: 50% plants to 85% 2023.
- CCAP core consolidation saved MSOs $500M 2023.
- Cable multicast ABR streaming to 50M homes 2023.
- OOB signaling upgrade to IP in Comcast full footprint 2023.
- Cable timing protocol for 5G sync: deployed 2023.
- Hybrid fiber-wireless for cable fixed wireless 2023 trials.
- DOCSIS Provisioning Time reduced to 5 min avg 2023.
- Cable network energy efficiency up 25% with AI 2023.
Technology and Infrastructure Interpretation
The cable industry spent 2023 frantically trying to prove it's not just a bloated TV provider anymore by shoving fiber deeper into its networks, squeezing every last hertz out of its aging coax, and preparing to quietly underpin the 5G future, all while desperately hoping you don't notice the upload speeds still lagging behind the marketing hype.
Viewership and Ratings
- Nielsen measured 1.2 million average primetime cable viewers in Q1 2024.
- ESPN averaged 1.6 million viewers nightly in 2023.
- Fox News led cable news with 2.1 million avg primetime 2023.
- MSNBC primetime avg viewership: 1.2 million in 2023.
- CNN cable news avg: 650,000 primetime viewers 2023.
- HGTV averaged 1.1 million total day viewers in 2023.
- TLC reality shows drew 1.4 million avg weekly 2023.
- USA Network scripted avg: 800,000 viewers per episode 2023.
- Bravo's Real Housewives franchise: 1.5 million avg 2023.
- Discovery Channel avg primetime: 950,000 viewers 2023.
- Hallmark Channel holiday movies: 2.3 million avg Dec 2023.
- Paramount Network's Yellowstone: 5.2 million live+3 2023 finale.
- Lifetime movies averaged 1.8 million viewers in 2023.
- Food Network primetime avg: 1.0 million in 2023.
- A&E true crime series: 1.3 million avg episode 2023.
- Cable news total day avg across Big 3: 1.1 million 2023.
- AMC's The Walking Dead spin-offs: 2.8 million premiere 2023.
- truTV unscripted avg: 450,000 viewers 2023.
- Cable share of total TV viewing: 32.4% in Q4 2023.
- Sports on cable: 15% of total TV time spent 2023.
- News genre on cable: 12% share of viewing 2023.
- Reality TV on cable grew 8% in viewership to 25% share 2023.
- Primetime cable demo 25-54: 450,000 avg across networks 2023.
- Live sports events on cable peaked at 8.2 million avg 2023.
- Cable movies avg viewership: 1.2 million weekend 2023.
- ION Television syndication: 600,000 avg nightly 2023.
- Cable total viewers P2+: 45 million avg primetime night 2023.
- Weather Channel avg: 550,000 total day 2023.
- QVC home shopping: 1.4 million avg daytime 2023.
- Cable lost 2.1 share points in total day viewing 2023.
Viewership and Ratings Interpretation
Despite a sea of niche successes—from Fox News’s commanding 2.1 million primetime viewers to the immense 5.2 million finale for "Yellowstone"—the overall cable landscape is undeniably contracting, as evidenced by its 2.1 share point loss in total day viewing, proving that even a crowded lifeboat is still sinking.
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