Last year alone, millions of American households made a quiet but definitive declaration that the era of bloated cable bundles is over, with U.S. pay-TV providers hemorrhaging over 5.9 million subscribers in 2022.
Key Takeaways
- U.S. pay-TV households declined by 5.9 million in 2022
- Cable subscribers dropped by 1.2 million in Q4 2023
- Traditional MVPDs lost 6.5 million subs in 2023
- Netflix added 13.1M subs in 2023
- Disney+ reached 150M global subs by Q4 2023
- Hulu subs grew to 48M in 2023
- 28.8% of U.S. adults cut cord in past year 2023
- 59 million Americans canceled pay-TV in 2023
- Cord cutting rate accelerated to 4.3% in 2023
- U.S. streaming market $50B in 2023
- Pay-TV revenue down to $90B from $110B peak
- Streaming share of TV time 38% in 2023
- Households save $986/year cutting cord
- Average pay-TV bill $217/month 2023
- Streaming average $55/month per service
Traditional pay-TV is rapidly shrinking as streaming services win over viewers.
Cord Cutting Rates
128.8% of U.S. adults cut cord in past year 2023
Verified259 million Americans canceled pay-TV in 2023
Verified3Cord cutting rate accelerated to 4.3% in 2023
Verified450% of Gen Z never had cable
Directional577% of cord cutters save $100+/month
Single source6Cord cutters increased 20% YoY in 2023
Verified765% of households cord cut by 2025 forecast
Verified8Millennials lead cord cutting at 45% rate
Verified9Rural cord cutting up 15% in 2023
Directional10Sports fans cord cut less, 30% rate
Single source1140% of cord cutters return within a year
Verified12Cord shaving (downgrade) 25% of cutters
Verified13Pandemic boosted cord cutting 10%
Verified1433% of U.S. homes pure streaming only 2023
Directional15Cord cutting households grew to 81.7M
Single source16Average cord cutter age 42, down from 50
Verified17Hispanic households cut cord at 35% rate
Verified1870% cite cost as reason for cutting
Verified19Cord cutting peaks in summer months
Directional2015% annual cord cutting growth 2020-2023
Single source21vMVPDs attract 20% of new cutters
Verified2225% of broadband homes cut cord 2023
Verified23Cord cutting slowed to 3% in Q4 2023
VerifiedCord Cutting Rates Interpretation
Cable companies are witnessing a mass exodus so brisk that nearly a third of adults have recently fled, with half of Gen Z having never even set up camp in their expensive kingdom, all while former subjects happily report plundering an average of $100 back into their own coffers each month.
Economic Impacts
1Households save $986/year cutting cord
Verified2Average pay-TV bill $217/month 2023
Verified3Streaming average $55/month per service
Verified4Cord cutters save 40% on entertainment
Directional5Pay-TV industry lost $20B revenue 2019-2023
Single source6Streaming revenue $28B US 2023, up 12%
Verified7Job losses in cable 50k since 2019
Verified8Price hikes 5% annual on cable
Verified970% cut due to rising costs over $100/mo
Directional10Broadband costs rose 3% with cord cutting
Single source11Sports streaming premiums add $20/mo
Verified12Ad revenue shift $5B from linear to CTV
Verified13Cable capex down 15% post-cord cutting
Verified14Household entertainment budget streaming 25%
Directional15Netflix profitability $5B net income 2023
Single source16Pay-TV EBITDA margins squeezed 20%
Verified1760% of cutters report satisfaction
Verified18Market consolidation saves $2B costs
Verified19Free ad-supported TV saves $30/mo avg
Directional20Total addressable video market $150B
Single source21Cord cutting boosts broadband subs 10M
VerifiedEconomic Impacts Interpretation
The pay-TV industry is learning the hard way that when you treat customers like captive ATMs, they'll happily take their $986 in annual savings and a side of satisfaction to the streaming buffet, leaving cable's golden goose not just cooked but thoroughly cord-cut.
Market Shifts
1U.S. streaming market $50B in 2023
Verified2Pay-TV revenue down to $90B from $110B peak
Verified3Streaming share of TV time 38% in 2023
Verified4Cable share drops to 30% of viewing
Directional5FAST channels revenue $1.5B in 2023
Single source6vMVPD market share 12% of pay-TV
Verified7Ad-supported streaming up 50% revenue
Verified8Hybrid homes (pay-TV + streaming) 40%
Verified9Broadcast TV share 20%, down 5% YoY
Directional10Sports streaming captures 25% rights
Single source11Global streaming overtakes pay-TV 2023
Verified12U.S. TV ad spend shifts 15% to streaming
Verified13Cable networks viewership down 12%
Verified14Netflix 8% of all TV viewing US
Directional15YouTube 10% TV time share
Single source16Linear TV declining 5% annually
Verified17CTV ad market $30B by 2025
Verified18Pay-TV ARPU down 4% to $110/month
Verified19Streaming bundles rise to 25% adoption
Directional20Regional sports networks collapsing
Single source2145% of TV consumption streaming only
Verified22Average household streaming spend $60/month
Verified23Cable bundles eroding 10% market
VerifiedMarket Shifts Interpretation
It appears the once mighty cable bundle has been aggressively picked apart by streaming, leaving a fragmented but ruthlessly efficient market where we now pay almost as much to piece it all back together, just with more ads and the existential dread of losing our local sports team.
Pay-TV Losses
1U.S. pay-TV households declined by 5.9 million in 2022
Verified2Cable subscribers dropped by 1.2 million in Q4 2023
Verified3Traditional MVPDs lost 6.5 million subs in 2023
Verified4Pay-TV penetration fell to 68.7 million households by Q3 2023
Directional5Satellite TV subs decreased by 800,000 in 2022
Single source6Comcast lost 2.3 million video subs from 2019-2023
Verified7Charter lost 1.4 million video customers in 2023
Verified8DirecTV subs fell by 3 million since 2019
Verified9U.S. cable penetration dropped to 42% in 2023
Directional10Pay-TV households at 77.6 million in Q2 2023, down 7%
Single source112023 saw 5.3 million net pay-TV losses
Verified12Virtual MVPDs still net positive but slowing
Verified13Traditional pay-TV lost 1.5 million in H1 2023
Verified14Dish Network video subs down 1.7 million YOY
Directional15Altice USA lost 300k video subs in 2023
Single source16WOW! lost 100k video customers in 2022
Verified17Pay-TV churn rate hit 2.8% in 2023
Verified1855% of U.S. homes cord-cut by 2023
Verified19Multichannel video subs at 70 million in 2023
Directional20Cable MSO video revenue down 10% in 2023
Single source21Pay-TV households projected to 65M by 2025
Verified22Q1 2023 pay-TV loss of 1.3M subs
Verified23Verizon Fios video subs down 400k
Verified24AT&T video subs plummeted post-DirecTV spin
Directional25Cox video losses accelerated in 2023
Single source26Pay-TV market contraction 8% annually
Verified272022 pay-TV subs at 82M, down from 100M peak
VerifiedPay-TV Losses Interpretation
The pay-TV industry is experiencing a mass exodus so dramatic that if cable cords were actual ropes, the entire country would be untethered and floating away by now.
Streaming Growth
1Netflix added 13.1M subs in 2023
Verified2Disney+ reached 150M global subs by Q4 2023
Verified3Hulu subs grew to 48M in 2023
Verified4Amazon Prime Video at 200M global users
Directional5Max (HBO Max) hit 97M subs post-merger
Single source6Peacock added 7M paid subs in 2023
Verified7Paramount+ reached 60M subs globally
Verified8Apple TV+ subs estimated at 25M
Verified9YouTube Premium 100M subs in 2023
Directional10Sling TV grew to 2.2M subs
Single source11FuboTV subs at 1.5M by end 2023
Verified12Philo subs reached 800k
Verified13Vudu (Fandango at Home) 50M users
Verified14Tubi FAST viewers 74M MAUs
Directional15Pluto TV 80M MAUs in 2023
Single source16Roku Channel 80M users
Verified17Amazon Freevee 200M streams/month
Verified18Disney bundle (D+/Hulu/ESPN) 5M signups
Verified19Netflix ad-tier 15M subs in 6 months
Directional20U.S. streaming subs total 1.1B by household
Single source21vMVPD subs reached 14M in 2023
Verified22Global OTT subs to hit 1.8B by 2027
Verified2385% of U.S. broadband homes have streaming
Verified24Average U.S. home subscribes to 5.1 SVODs
Directional2538% annual growth in streaming revenue 2019-2023
Single source26Discovery+ merged into Max, boosting subs 20%
Verified27Spotify video podcasts drive subs up 15%
Verified28Tidal music streaming subs steady at 3M
VerifiedStreaming Growth Interpretation
It seems everyone is so busy cutting the cord from cable that they've ended up tangled in a far more expensive web of subscriptions, proving the real art isn't in escaping the bundle but in reassembling it piece by piece from a dozen different bills.
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