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“Cord Cutting Has More Momentum Than Ever”, says PwC

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Roshan Dwivedi
“Cord Cutting Has More Momentum Than Ever”, says PwC

PwC, in its fifth annual TV and video consumption survey, reported that the number of U.S. consumers who have cut the cord with their pay-TV service providers continue to rise, but demand for live sports continues to be one major reason why many people remain reluctant to drop their traditional TV services.

 

The research giant said, “Cord cutting has more momentum than ever.” The survey reveals that 19% of respondents said they cut the cord, up from 17% in 2016 and from 16% in 2015. At the same time, 73% of the 1,986 Americans in the age group of 18-59 years old with annual household incomes of more than $40,000 said that they still subscribed to pay-TV, down from 76% in 2016 and from 79% in 2015.

 

The number of viewers “trimming” their pay-TV subscriptions without cutting them completely also rose to 27% this year, up from 22% last year, and from 18% in 2015. According to the report, at present the number of respondents who use Netflix is the same as those who use pay-TV.

 

At 63%, older consumers in the age group of 50-59 years old have the highest growth ratio for OTT services users, up from 48% in 2016. PwC also said that 46% of the services used by respondents are the ones that they acquired just within the last six months.

 

According to PwC, live sports is one of the biggest motivators that keeps people stay connected to the cord.  A whopping 82% of sports fans surveyed, said that they would end or trim their pay-TV subscription if they no longer need access to live sports. The average sports fan would pay about $23 per month to enjoy unlimited access to live sports on any platform available.

 

PwC also revealed some interesting facts that are signs of unrest among streamers. It says, 75% of respondents couldn’t handle using more than four services in addition to pay-TV. Respondents, on an average, watched not more than two services on a regular basis, irrespective of how many they have subscribed to.

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Roshan Dwivedi
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