Cord-cutters about to surpass the number of people paying for cable for the first time
If you’ve ditched your pricey cable bill in favor of streaming entertainment, you’re not alone.
The experts at Insider Intelligence say by the end of 2023, the number of so-called cord-cutters in this country will surpass the number of people paying for traditional TV for the first time.
The cord-cutters’ numbers have been growing for years, but this year will finally be the year they outnumber their cable customer counterparts, according to the research service.
The number of cord-cutters plus people who have never paid for TV will grow to 144.1 million by the end of this year — that’s a jump of 12.5% from last year alone.
U.S. non-pay TV viewers — the sum of cord-cutters and cord-nevers — will grow by 12.5% to 144.1 million by the end of 2023.
In fact, by 2027, the number of people who watch their entertainment without going through their local cable company will “effectively double” the number of traditional pay TV viewers, the industry analysts say.
“Regardless of how one defines pay TV, there is an unmistakable attrition in the number of people who are willing to pay upwards of $100 a month for a live TV bundle,” said Paul Verna, vice president of content at Insider Intelligence.
He adds, “The cord-cutters have won.”
Verna says cable companies will be forced to adapt to survive, catering to a public now used to streaming their news, sports and entertainment via the internet, instead of through their set-top boxes.
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