Cord Cutting Statistics and Trends

20+ Trending Cord Cutting Statistics in 2024

Published on: November 13, 2023
Last Updated: November 13, 2023

20+ Trending Cord Cutting Statistics in 2024

Published on: November 13, 2023
Last Updated: November 13, 2023

The conventional way of watching TV like cable and satellite subscriptions is in a rapid decline as more people engage in cord cutting.

Cord cutting is the choice to walk away from conventional means of television viewing in favor of streaming and over-the-top (OTT) content.

The cord cutting movement has been going on since 2007 just after the appeal of OTT subscription entered the scene.

Over-the-Top media services use the internet to bypass the conventional television viewing ideal.

Some examples of OTT services include Amazon Prime Video, Hulu. and Netflix.

This trend of cord cutting and moving to streaming content has really shown its significance in recent years.

Much of the trend is because people want more flexible and affordable ways to watch their favorite movies and television shows.

Another factor of cord cutting involves original movies and TV shows being produced among the OTT providers.

Netflix Originals, Hulu Originals, and other original content has media consumers enthralled more so than conventional Prime Time network content. 

“Originals” among the OTT world became popular so fast that networks like Paramount and Peacock started offering streaming services that include their own originals.

This is just one of the trends in streaming “outside the box” as people cancel cable and satellite TV subscriptions.

Let’s explore the cord cutting statistics and trends we see in today’s world.

Resource Contents show

Key Statistics

  • 80 Million American households are expected to engage in cord cutting by 2026.
  • The global SVoD market is expected to reach 1.68 billion by 2027.
  • In the United States, pay-TV subscriptions dropped from over 100 million to 65 million in 2022.
  • Last year alone, 4.9 million households cut the cable cord.
  • 61% of individuals aged 18 to 29 have never subscribed to cable or satellite TV services.
  • 17% of the global SVoD market belongs to China.
  • Cable TV providers lost almost 2 million subscribers in Latin America and the Caribbean in 2021.
  • It’s predicted that over 50% of Western Europe will engage in cord cutting by 2025.
  • 86.7% of cord cutters cite price as the main motivating factor.
  • 71% of U.S. adults said they want to have online access to content they want.

Top Cord Cutting Statistics and Trends in 2024

Cord Cutting 456

1. 80 Million American Households Are Expected to Engage in Cord Cutting by 2026.

It’s expected that by 2026 80.7 million American households will have cut the cord as they cancel cable or satellite subscriptions.

Additionally, it’s expected that pay-TV households will drop to 51.3 million by 2026.

This year (2023) is the first year that cord-cutting outpaced cable and other pay-TV American households. 

(MarketSplash)

2. The Global SVoD Market Is Expected to Reach 1.68 Billion by 2027.

The global Subscription Video On Demand (SVoD) is expected to reach 1.68 billion subscribers by 2027.

In 2021, there were over 1.2 billion SVoD subscriptions across 138 countries.

So, this market is set to skyrocket.

(Statista)

3. In the United States, Pay-TV Subscriptions Dropped from Over 100 Million to 65 Million in 2022.

According to statistics, pay-TV subscriptions (cable, satellite, etc.) fell from 100.5 million in 2014 to around 65 million in 2022.

Further data shows that between 2017 and 2022 the pay-TV market revenue in the United States fell from $100.1 billion to $86.21 billion (USD).

(Statista²)

4. Last Year Alone, 4.9 Million Households Cut the Cable Cord.

In 2022 alone, 4.9 million people cut the cord and ditched conventional television viewing.

This figure represents an 18.9% increase over 2021.

Recent data suggests that each year, the number of cord cutters grows even though the rate of change has slowed a bit.

( BroadbandSearch)

5. 61% of Individuals Aged 18 to 29 Have Never Subscribed to Cable or Satellite TV Services.

Satellite TV 012

If you’ve never had a cable TV or satellite TV subscription, there’s no need to cut the cord.

A whopping 61% of individuals aged 18 to 29 have never had a subscription to satellite or cable TV.

In fact, this is the largest age demographic who have never subscribed to cable or satellite TV. 

(Zippia)

6. 17% of The Global SVoD Market Belongs to China.

Due to the large population of China, there are more cord-cutters per capita than anywhere in the world.

In 2019, China is attributed with 17% of the total SVoD market revenue.

It’s expected that China’s iQiyi will be the top ranked SVoD platform in the country by 2025.

It’s expected to have over 100 million users.

(FinancesOnline)

7. Cable TV Providers Lost Almost 2 Million Subscribers in Latin America and The Caribbean in 2021.

In the global realm of cord cutting, cable TV lost almost 2 million subscribers across the Latin American and Caribbean regions in 2021.

In 2021, multichannel penetration for regional TV households was at 35.6% among all providers.

The most popular of these providers lost 11.5% of their paid subscribers by the end of 2021.

(S&P Global)

8. It’s Predicted that Over 50% of Western Europe Will Engage in Cord Cutting by 2025.

While some statistics show that cable TV is growing in Europe, there is still varied data regarding multiple demographics.

It’s predicted that over half of Western Europe households will become cord cutters by 2025. 

(Gitnux Blog)

9. 86.7% of Cord Cutters Cite Price as The Main Motivating Factor.

Most cord cutters say that the price of cable and satellite television services was a driving factor in cutting the cord.

One survey revealed that 86.7% of cord cutters cited price as their main motivation for switching from cable or satellite services for TV viewing.

(TechReport)

10. 71% of U.S. Adults Said They Want to Have Online Access to Content They Want.

Satellite TV 345

The Pew Research Center reported that 71% of American cord-cutting adults cite that viewing content that they want as the reason for their decision.

So, having the flexibility in programming and access to content they want to watch is a significant driver among cord cutters.

(Exploding Topics)

11. 30% of American Adults with Cable TV Subscriptions Say They Are Likely to Cancel Services.

Out of the millions of Americans still subscribing to cable TV, 30% say they are likely to cancel their subscriptions to become cord cutters.

There are still a significant number of Americans with cable subscriptions that haven’t cut the cord yet, but this data tells us that another significant plan to do so.

(MarketSplash, YouGov)

12. 26% of American Adults Aged 55-Plus Intend to Cancel Their Cable TV Subscriptions.

This data found through a YouGov survey is significant because the 55-plus age demographic are the ones who have the most cable TV subscriptions in terms of age.

Over one-quarter of this age group said they are likely to cancel their traditional TV services.

(YouGov)

13. A Substantial 52% of Cord Cutters Claim They Don’t Feel Like They’re Missing Anything.

A substantial 52% of those who have cut the cord say they don’t miss anything about cable TV.

It’s believed that the cable providers were counting on local programming and sports content to maintain their subscriber base.

However, only 23% said they miss live events and 22% miss the local news. 

(BroadbandSearch)

14. The Streaming Service Industry Is Expected to Achieve $252 Billion by 2025.

Revenues are a significant metric for past, present, and future trajectories across industries.

That said, the streaming service industry is expected to achieve $252 billion (USD) by 2025, which is almost double of 2021 revenue ($171 billion).

(Zippia)

15. Disney + Amassed a Huge Subscriber Database in A Short Time.

Best VPN for Disney Plus

Data shows that Disney +, while one of the newest streaming services on the market, managed to amass 57.5 million subscribers by the end of 2020.

In spite of some controversy and subscriber loss since the pandemic, this service remains fluid.

(Guru99)

16. Sky, a British Pay-TV Service Provider Lost $5.8 Billion Between 2019 and 2020.

Pay-TV service providers in America aren’t the only ones losing subscribers and revenue.

The British pay-TV service provide experienced a loss of $5.8 billion (USD)between 2019 ($108.94 billion) and 2020 ($103.56 billion). 

(FinancesOnline)

17. Cord Cutters Are Using Ads-Supported Streaming Services for Free and Cheaper Rates.

The truth is that there are multitudes of free streaming services available with a wide range of programming for anyone.

Some streaming services offer cheaper subscription rates for ads-supported versions, while free versions are fully ads-supported.

More people are choosing the cheaper option, according to a 2023 Deloitte survey reporting that 60% of respondents said they use a free, ads-supported streaming service. 

(TechReport)

18. The Biggest American Cable TV Providers Have Lost a Significant Number of Subscribers.

While America’s top cable TV providers lost a significant number of subscribers, they still have millions of customers to consider.

For instance, during the Q1 of 2023, ComCast lost 600,000 subscribers, but still maintain 15.5 million.

DiorecTV (satellite) lost around 500,000 subscribers.

(Comparitech)

19. By 2025, Global Cord Cutting Revenues Are Expected to Achieve $88 Billion.

Statistics suggest that the loss of cable and satellite subscriptions and the growth of cord-cutting have both slowed a bit in the last couple of years.

However, the global cord-cutting market is expected to reach $88 billion (USD) in revenues by 2025.

(Gitnux Blog)

20. By 2025, India Is Expected to Have 6 Million Pay-TV Subscribers. 

Satellite TV 901

We’ve mentioned that some regions of the world are engaging in less cord cutting and more pay-TV viewing.

One example is in India, in 2020, there were 5.78 million pay-TV households compared to the expected 6 million for 2025.

That may not signify massive growth, but it’s growth nonetheless over SVoD.

(FinancesOnline)

FAQs

What Makes Cord Cutting so Popular?

There are several reasons more people are cutting the cable/satellite cord these days, but the main reason is that streaming services are quickly becoming the most convenient and affordable way to watch what you want when you want.

Many OTT content streaming services come at a cost of under $10 per month, which is a far cry from the $75 to over $100 for cable or satellite subscriptions.

Moreover, streaming services like Amazon Prime Video, Hulu, Frndly, and Netflix offer a wide selection of content, including originals.

Another thing that makes cutting the cord so appealing is that it offers more flexible ways to watch video content and choices in content.

It allows you to watch what you want when you want to watch it without worrying about schedules.

Do You Need Special Equipment to Join the Cord Cutting Revolution?

Yes and no. First, you do need to have access to a high-speed internet connection to enjoy streaming content without a lot of buffering.

This is a must-have for proper streaming.

 If you have access to a mobile device or a computer (desktop or laptop) many streaming services like Netflix, Peacock, Paramount, Amazon Prime Video, Friendly, and other such services can be watched on almost any device, which is one of the conveniences this mode of television viewing is growing.

However, if you want to use your television as the device you watch shows, movies, and other interesting content, you can invest in a Roku streaming device that allows you to put all of your paid streaming subscriptions on one device.

There are several devices that you can use for streaming including Amazon Fire TV Stick, Roku Streaming Stick or device, Chromecast by Google, Apple TV, and the newest one on the scene is the Xumo device.

Investing in a Smart TV also gives you another option to watch your favorites by adding your streaming apps.

Can You Still Watch Live TV if You Cut the Cord?

Yes you can enjoy live TV when you cut the cord.

In fact, there are many streaming services that now offer live TV options like Hulu + Live TV, YouTube TV, Philo, Frindly, Sling TV, and fubo TV to name a few.

You can get access to local television channels, sports channels, and premium channels depending on the package tier you choose.

Can You Still Have Dvr Capabilities if You Cut the Cord?

Yes. Again, many streaming services like YouTube TV and others offer DVR with various storage levels for your needs.

So, you can record a movie or show and watch it at your leisure without scheduling or time constraints.

Is Cord Cutting Right for You?

Every consumer has different wants and needs in terms of television programming viewing.

If you consume a lot of television content, or you have a big family with different viewing habits, cord cutting may be less convenient for you.

However, if you’re willing and able to alter your viewing habits, cord cutting can be a more affordable solution.

Ultimately, the choice is yours to make.

Conclusion

After reading these statistics, the cord cutting trend is here to stay and will continue over the next several years as cable and satellite providers navigate through these challenging and competitive media waters.

Let’s not forget to mention that as technology and innovations keep evolving and growing, there will be vast improvements in the streaming realm and more consumers will be moving away from conventional television viewing means.

Whether you have joined the cord cutting movement or not, the landscape of television viewing is changing because of OTT and live streaming services.

Only in the past couple of years has live streaming services outpaced cable and satellite subscriptions.

For now, cable and satellite television subscribers are still creating revenue for cable and satellite companies, as is the ad revenue from this mode of TV viewing.

Will the cable and satellite industries be able to adapt in convenient, affordable, and appealing ways?

The future is yet to be seen in the overall OTT content streaming versus cable subscription markets.

We hope these cord cutting statistics have served to make you more informed consumers.

Sources

MarketSplashZippiaTechReport
ComparitechStatistaFinancesOnline
Exploding TopicsStatista²S&P Global
YouGovBroadbandSearchGitnux Blog
Guru99

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Written by Jason Wise

Hello! I’m the editor at EarthWeb, with a particular interest in business and technology topics, including social media, privacy, and cryptocurrency. As an experienced editor and researcher, I have a passion for exploring the latest trends and innovations in these fields and sharing my insights with our readers. I also enjoy testing and reviewing products, and you’ll often find my reviews and recommendations on EarthWeb. With a focus on providing informative and engaging content, I am committed to ensuring that EarthWeb remains a leading source of news and analysis in the tech industry.