The entertainment world is ever evolving and the battle between streaming services and cable television has materialized as a defining trend.
Cable has long been the dominant force in home entertainment, but the rise of streaming services like Amazon Prime Netflix, Hulu, and Disney+ has challenged the reign of cable TV by offering a more personalized and on-demand viewing experience.
This resource will dig into compelling streaming vs cable statistics that will enlighten you about the shifting landscape of television consumption.
- In July 2022, streaming services outperformed cable TV for the first time.
- 77% of American adults between 18 and 34 years old prefer streaming over cable.
- 81% of American adults aged 65 and over consume cable TV.
- 2009 was the worst year ever for conventional cable TV subscribers.
- By the end of 2021, 5.2 million households ended their cable TV subscriptions.
- OTA (Over-the-Air) broadcasts took a cut when cable TV came onto the scene.
- In 2022, free ad-supported TV services rose by 55%.
- Cord-cutters are drawn to original programming content.
- The global streaming market share has been valued at $455.45 billion.
- The total global pay TV market has a value of $202.2 billion as of 2022.
Top Streaming vs Cable Statistics in 2024
1. In July 2022, Streaming Services Outperformed Cable TV for The First Time.
According to a 2022 Nielsen study, the top streaming services attracted more viewers than cable television services for the first time in July 2022.
So, by the end of the Q2 and beginning of the Q3 in 2022, streaming services outpaced cable TV for the first time ever in America.
2. 77% of American Adults Between 18 and 34 Years Old Prefer Streaming Over Cable.
In 2021, statistics showed that Gen Z’s prefer to watch programming and videos over streaming platforms than through cable TV.
This includes American adults between the ages of 18 and 34.
In contrast, only 34% of this age demographic subscribes to and consumers cable TV.
3. 81% of American Adults Aged 65 and Over Consume Cable TV.
More 2021 statistics revealed that 81% of American adults 65 and older subscribe to and consume cable TV.
Other statistics revealed that among Baby Boomers aged 60 and up 40% preferred streaming services over cable TV, which shows an uptake in this generation and cutting the cord.
4. 2009 Was the Worst Year Ever for Conventional Cable TV Subscribers.
As we watch cable TV subscriptions decline nowadays, it’s nothing compared to its fall in 2009.
The main reason for this was due to the lower wages and cable TV subscription price increases that were incurred in 2009.
For instance, the expanded cable TV package increased by 5.5% while wage earners were making significantly less during the housing market crash of 2009.
5. By The End of 2021, 5.2 Million Households Ended Their Cable TV Subscriptions.
In 2021, it was estimated that 5.2 million cable TV subscribers quit their services with their providers.
Likewise, it was estimated that 4.9 million more would cut the cable cord in 2022.
Moreover, this trend is expected to continue.
Don’t fret yet because cable TV subscriptions and cable ad revenues are still doing well.
6. OTA (Over-the-Air) Broadcasts Took a Cut when Cable TV Came onto The Scene.
Historic data tells us that before cable came onto the scene, people watched TV broadcasts over-the-air (OTA) through an antenna.
When cable came along, people cut the OTA cord to subscribe to cable TV.
Now, the cycle seems to be making a turnabout back to OTA as an alternative to cable TV, mostly due to its rising costs.
7. In 2022, Free Ad-Supported TV Services Rose by 55%.
Free Ad-Supported TV is now referred to as “FAST” and in 2021, this TV programming format grew to 45%.
So, 45% of consumers chose to watch FAST over cable TV, paid streaming subscriptions, or any other paid TV option.
In 2022, this figure jumped to 55%.
New platforms are rapidly entering the scene like Pluto, Roku, Samsung, Xumo, Tubi, and others offering free personalized programming.
8. Cord-Cutters Are Drawn to Original Programming Content.
Hulu, Netflix, Max, HBO, Paramount, Disney +, Amazon Prime Video, Peacock, and other streaming companies offer their own original content you can only access through their platform.
Cord-cutters have become enamored by original content, and who could blame them?
Original shows like Wednesday, Only Murders in the Building, and other original shows and movies are becoming popular among today’s cord cutters.
As you might expect, the global streaming service market is growing.
As of 2022, data showed that the total global streaming market size had a valuation of $455.45 billion (USD).
It’s expected to experience a CAGR of 19.3% during the forecast period of 2023 to 2030.
By 2030, this industry is expected to reach $1,902.68 billion (USD).
(Fortune Business Insights)
10. The Total Global Pay TV Market Has a Value of $202.2 Billion as Of 2022.
The pay TV market includes cable TV, Satellite TV, and IPTV, respectively.
Overall, the global market in the pay TV industry is worth $202.2 billion as of 2022.
It’s expected to see a rise to $250.12 billion (USD) by 2032 at a CAGR of 2.2% between 2023 and 2032.
Streaming TV Statistics
Let’s explore some streaming TV statistics.
11. The Asia Pacific Region Is Expected to Account for 44% of Global SVoD Consumption.
The Asia Pacific SVoD subscriber market is expected to account for 44% of the global SVoD subscriber base by 2027.
This tells us that countries like China, India, Japan, Australia, New Zealand, Thailand, Indonesia, among others in this region, will be consuming more subscription-based on-demand video content by 2027.
12. The SVoD Market in Europe Is Expected to Generate $18.30 Billion in 2023.
In Europe, the SVoD market is expected to generate $18.30 billion (USD) in revenues in 2023.
Between 2023 and 2027, this market is expected to exhibit a CAGR of 9.76%. The projected revenue for 2027 is $26.56 billion (USD).
Moreover, this is based on the expected rise to 284.6 million European SVoD users by 2027.
In comparison, the United States is expected to achieve $39,250.00 million in 2023, the highest worldwide.
13. By 2027, The Latin American SVoD Market Is Expected to Have 139 Million Subscribers.
There will also be growth among the Latin America region in the streaming video market.
It’s predicted that there will be 139 million subscribers by 2027.
In 2021, around one-third of Latin American consumers subscribed to at least two streaming video services among the most highly populated countries in Latin America.
14. Cost Is Cited as The Most Important Factor in Choosing a Streaming Video Service.
Surprisingly, quality accounted for 77% of what consumers said is most important about a video streaming service compared to price, which accounts for 84%.
That means consumers are more concerned about price these days than playback quality, though 77% is significant enough to be very important.
Ease of use accounts for 81% and variety of content 79%.
That’s the breakdown of what consumers consider when choosing a streaming service.
15. 78% of American Households Have Subscriptions to One or More Streaming Platforms.
Overall, a whopping 78% of people in the United States have at least one or more subscriptions to streaming video platforms.
This includes platforms like Netflix, Hulu, Apple TV, Discovery+, and Prime Video to name a few.
Cable TV Statistics
Let’s investigate some interesting cable TV statistics.
16. Cable TV Was Still Leading the Way in Asia-Pacific Countries in 2022.
In Asia-Pacific countries, cable TV still reigns. In fact, 53.9% of all pay TV subscriptions were cable TV in 2022.
Cable TV in this region accounted for 696.08 million subscribers.
IPTV came in second in the market share with 32.1%.
Overall, cable and IPTV dominated the share of multichannel households in 2022.
17. It’s Expected that In Eastern Europe More than 78 Million Cable TV Households
By 2023, it’s expected that there will be Over 78 million cable TV households in Eastern Europe.
In Western Europe, it’s estimated that there are 105.8 million cable TV households.
Cable TV subscriptions are growing in Europe.
18. In Latin America, the Revenues from Cable TV Are Expected to Reach $14.9 Billion by 2024.
It’s important to note that cable TV is growing in other nations compared to its decline in North America, and especially the United States.
That said, revenues from cable TV in Latin America are expected to reach $14.9 billion (USD) by 2024.
19. Comcast Is Still the Top Ranked Cable TV Provider in The United States.
In 1963, in Philidelphia, Pennsylvania, USA, a cable company known as Comcast was born.
As of 2022, this cable company is the top provider in America, and it generated $66.32 billion (USD) in 2022 alone.
20. Charter Communications, Inc. Generated $54 Billion in 2022.
Charter Communications, Inc. is also referred to as Spectrum TV and has its headquarters in Stamford, Connecticut, USA.
This cable/internet company was born in 1993 and was founded by Howard Wood, Barry Babcock, and Jerald Kent.
In recent years, this company added Spectrum Mobile to its offerings.
As of 2022, this company generated $54 billion (USD) in 2022.
Bonus Fast Streaming Vs Cable Stats
21. Netflix Is Still Dominating the Video Streaming Service Industry with Over 230 Million Subscribers. It’s Dominating in 78 Countries.
22. Apple TV+ Intends to Spend $7 Billion Each Year on Original Content.
23. Disney+ is Expected to Spend $10.5 Billion on Original Content in 2023.
24. Cable Companies Have Lost Around 25 Million Subscribers Since 2012.
25. By 2023, Cable TV Subscription Penetration Will Fall Below 60%.
Streaming Vs Cable Statistics FAQs
Let’s look at some FAQs about cable TV and streaming TV.
How Much Does It Cost to Subscribe to Cable TV?
Cable TV: Cable television providers usually have several packages from which to choose.
Therefore, the cost of cable TV will vary between providers and the package you select.
For instance, your local cable TV provider may offer a bundled package for phone, TV, and internet at one low monthly price.
However, that price is likely to go up over a few months or within a year or two depending on the provider and the promotional discount rules.
That said, the average monthly cable TV subscriber paid $217.42 per month.
The basic plan averages just over $73.00 per month.
Is it any wonder people are cutting the cable cord?
What Are the Alternatives to Cable TV?
There are several alternatives to cable TV to cover, but here are the primary options:
• Satellite TV, which is similar to cable and usually has the same issues with pricing.
• OTA (Over-the-Air) which is free but requires an antenna to access local television broadcasts.
• IPTV (Internet Protocol Television) which offers TV programming and other video content through the TCP/IP suite opposed to satellite signals, cable TV, or conventional broadcast TV. Most programming is still subscription based.
• Streaming services such as Amazon Prime Video, Hulu, Netflix, etc.
How Much Are Streaming TV Subscriptions?
Streaming TV: The cost of subscribing to streaming TV services varies depending on the service and the plan that you pick.
Most streaming networks offer free trials and/or discounts before you fully commit to the service.
Generally, prices can range from $1.99 to over $80 depending on the kind of streaming services you want for your viewing pleasure.
Streaming TV services include live TV from providers like Hulu + Live, YouTube TV, Sling TV, Philo, fubo, and other such services.
Also, Netflix, Amazon Prime Video, Peacock, Frndly, Paramount +, and Disney + account for streaming services with some level of live TV channels or without live TV.
What Devices Allow for Streaming TV?
Since streaming is done over the internet, any connected device capable of video viewing can be used to consume videos and television programming.
Here are some devices for streaming TV:
• Smart TV offered by companies like Samsung, Vizio, etc.
• Streaming Media Players like Roku, Amazon Fire stick, etc.
As you can tell, there are a lot of statistics about cable and streaming services.
In fact, there are too many to cover in a single article.
We have hit the highlights and some of the most important data points about cable and streaming services you need to know.
We hope these streaming vs cable statistics have provided you with information you can apply to your life or business marketing.