GITNUX MARKETDATA REPORT 2024

The Most Surprising Cord Cutting Statistics And Trends in 2024

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Cord cutting has become an increasingly popular trend in recent years, with more and more people opting to cut the cord on their traditional pay-TV services. This shift away from cable TV is being driven by a variety of factors, including cost savings, access to streaming services like Netflix and Hulu, as well as convenience. In this blog post we will explore some of the latest statistics related to cord cutting around the world. We’ll look at how many households are currently cord-cutting in different countries such as the United States and Canada; what percentage of US broadband households only receive video entertainment through streaming services; which companies have been most affected by cord-cutting; why consumers choose to cut the cord; and much more.

The Most Important Statistics
69.8% of US households will be cord-cutting by 2024.

This statistic is a powerful indicator of the growing trend of cord-cutting in the US. It shows that an overwhelming majority of households are choosing to forgo traditional cable and satellite services in favor of streaming services. This is a significant shift in the way people consume media, and it has implications for the future of the industry. As more and more households make the switch, it will be important to understand the implications of this trend and how it will shape the media landscape in the years to come.

In 2021, more than 31.2 million US households have cut the cord.

This statistic is a testament to the growing trend of cord-cutting in the US. It shows that more and more households are choosing to forgo traditional cable and satellite TV services in favor of streaming services and other alternatives. This shift in consumer behavior is having a major impact on the television industry, and it’s something that can’t be ignored.

Cord Cutting Statistics Overview

Global cord-cutting revenues will reach $88 billion by 2025.

This statistic is a testament to the growing popularity of cord-cutting, as it indicates that the industry is expected to generate a staggering $88 billion in revenues by 2025. This is a clear indication that cord-cutting is becoming an increasingly viable option for consumers looking to save money on their entertainment expenses. As such, this statistic is an important one to consider when discussing the current and future state of cord-cutting.

63% of US broadband households only receive their video entertainment through streaming services.

This statistic is a telling indication of the changing landscape of video entertainment consumption. It demonstrates that streaming services have become the primary source of video entertainment for the majority of US broadband households, signaling a shift away from traditional cable and satellite services. This is an important statistic to consider when discussing the trend of cord cutting, as it shows the increasing prevalence of streaming services as a viable alternative to cable and satellite.

DIRECTV lost 3 million subscribers in 2020 due to cord-cutting.

This statistic is a stark reminder of the power of cord-cutting. It shows that 3 million people have chosen to forgo traditional cable and satellite services in favor of streaming services. This is a clear indication that cord-cutting is becoming increasingly popular and that the trend is likely to continue in the future.

Cord cutting in the United States increased by 22% in 2020 compared to 2019.

This statistic is a powerful indicator of the growing trend of cord cutting in the United States. It shows that more and more people are choosing to forgo traditional cable and satellite services in favor of streaming services. This is an important statistic to consider when discussing the current state of cord cutting and its potential implications for the future.

Cable TV penetration in the United States will decline to 53.8% by 2023.

This statistic is a telling sign of the times; cord cutting is becoming increasingly popular in the United States, and the decline in cable TV penetration is a reflection of that. As more and more people turn to streaming services for their entertainment needs, the cable TV industry is feeling the effects. This statistic is an important indicator of the changing landscape of television consumption, and is essential to understanding the full scope of cord cutting statistics.

About 68% of US cord cutters primarily watch TV using streaming services.

This statistic is a telling indication of the growing trend of cord cutting in the US. It shows that streaming services are becoming the go-to choice for those who are looking to save money on their TV bills. This statistic is a powerful reminder that cord cutting is no longer a niche phenomenon, but a mainstream option for many households.

67% of US broadband households subscribe to at least one OTT (over-the-top) streaming service.

This statistic is a telling indication of the growing trend of cord-cutting in the US. It shows that a majority of US broadband households are opting for OTT streaming services over traditional cable and satellite TV subscriptions. This shift in consumer behavior is a clear sign that cord-cutting is becoming increasingly popular and is likely to continue to grow in the future.

65% of cord cutters canceled their cable TV subscriptions due to the high cost.

This statistic is a powerful indicator of the impact of cost on cord cutters’ decisions to cancel their cable TV subscriptions. It demonstrates that the majority of people who have chosen to cut the cord are doing so because of the high cost of cable TV. This information is essential for anyone looking to understand the motivations behind cord cutting and the potential implications for the cable TV industry.

Around 4.6 million U.S. households are expected to cancel cable TV in 2021.

This statistic is a stark reminder of the growing trend of cord-cutting in the United States. It shows that more and more households are choosing to forgo traditional cable TV services in favor of streaming services and other alternatives. This shift in consumer behavior has major implications for the television industry, and it is important to understand the implications of this trend.

In Q3 2020, cord-cutting was three times higher among consumers aged 50+ than in the previous year.

This statistic is a telling indication of the growing trend of cord-cutting among older generations. It shows that even those who have been traditionally more resistant to change are now embracing the idea of cutting the cord and taking advantage of the convenience and cost savings that come with it. This is a significant shift in consumer behavior that should not be overlooked, and it is a trend that is likely to continue in the future.

75% of cord cutters don’t plan on ever returning to traditional pay-TV services.

This statistic is a powerful indicator of the growing trend of cord cutting. It shows that the majority of people who have made the switch to streaming services have no intention of going back to traditional pay-TV services. This is a clear sign that cord cutting is here to stay and that streaming services are becoming increasingly popular. This statistic is an important piece of evidence for anyone looking to understand the current state of the cord cutting industry.

Between 2014 and 2019, cable and satellite TV providers lost nearly 10 million subscribers.

This statistic is a telling sign of the times: cord cutting is on the rise. It shows that more and more people are choosing to forgo traditional cable and satellite TV providers in favor of streaming services. This shift in consumer behavior is a major factor in the changing landscape of the television industry.

30% of consumers aged 18-24 have never subscribed to a traditional pay-TV service.

This statistic is a telling indication of the changing landscape of television consumption. It suggests that a large portion of the 18-24 demographic is opting out of traditional pay-TV services, likely in favor of more cost-effective streaming services. This shift in consumer behavior is a key factor in the rise of cord-cutting, and is an important statistic to consider when discussing the current state of the industry.

Cord cutters spend an average of $85 less per month than cable TV subscribers.

This statistic is a powerful indicator of the financial benefits of cord cutting. It demonstrates that cord cutters can save a significant amount of money each month by forgoing cable TV subscriptions. This is an important point to consider for anyone looking to reduce their monthly expenses.

By 2021, 40 million households in the United States were using an OTT service as their primary video source.

This statistic is a testament to the growing trend of cord-cutting in the United States. It shows that more and more households are turning to OTT services as their primary source of video content, indicating that the traditional cable and satellite TV services are becoming less and less popular. This is an important statistic to consider when discussing the current state of cord-cutting in the US.

By 2025, more than 50% of households in Western Europe will be cord-cutting.

This statistic is a powerful indicator of the growing trend of cord-cutting in Western Europe. It shows that more and more households are choosing to forgo traditional cable and satellite services in favor of streaming services. This shift in consumer behavior has far-reaching implications for the media industry, and it is important to understand the implications of this statistic in order to make informed decisions about the future of media.

Conclusion

The statistics presented in this blog post demonstrate the rapid growth of cord-cutting across the United States and around the world. In 2021, more than 31 million US households have already cut their cords, while global revenues from cord-cutting are expected to reach $88 billion by 2025. The high cost of cable TV is a major factor driving people away from traditional pay-TV services; 78% of those who have cut the cord cite cost savings as their primary motivation for doing so. As streaming services become increasingly popular, it’s clear that cord cutting will continue to grow over time – with 69.8% of US households projected to be without cable or satellite service by 2024.

References

0. – https://www.cordcuttersnews.com

1. – https://www.digitaltvnews.net

2. – https://www.emarketer.com

3. – https://www.statista.com

4. – https://www.leichtmanresearch.com

5. – https://www.multichannel.com

6. – https://www.comscore.com

7. – https://www.reviews.org

8. – https://www.parksassociates.com

9. – https://www.prweb.com

10. – https://www.cnbc.com

11. – https://www.ncta.com

12. – https://www.businesswire.com

13. – https://www.businessinsider.com

14. – https://www.forbes.com

15. – https://www.ctvmedia.com

FAQs

What is cord-cutting?

Cord-cutting refers to the phenomenon where people cancel their cable or satellite television subscriptions in favor of alternative platforms like streaming services, over-the-air broadcasts, and internet-based television services.

What has contributed to the rise in cord-cutting?

The rise in cord-cutting can be attributed to several factors, such as the increasing cost of traditional cable and satellite TV packages, the growing availability and affordability of streaming services like Netflix and Amazon Prime, and advancements in technology that allow viewers to watch content on a variety of devices.

How has cord-cutting impacted the television industry?

Cord-cutting has significantly impacted the television industry by reducing the number of subscribers to traditional cable or satellite television services, resulting in declining revenues for these providers. In response, many providers have started offering "skinny bundles" with fewer channels at lower prices, as well as incorporating streaming platforms into their offerings.

How has cord-cutting affected traditional broadcast networks?

Cord-cutting has adversely affected traditional broadcast networks due to a decrease in the number of viewers, leading to lower advertising revenues. This has led to networks exploring alternative ways to distribute and monetize their content, such as creating their own streaming services or partnering with existing ones.

What are the benefits and drawbacks of cord-cutting for consumers?

The benefits of cord-cutting for consumers include potential cost savings, access to a wider variety of content through streaming services, and the ability to personalize viewing experiences. The drawbacks include the potential for a fragmented viewing experience due to multiple streaming services, internet data caps, and the need for a stable and high-speed internet connection.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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