60% of Americans Have Reportedly Canceled Cable TV From Places Like Comcast & Spectrum
Today, Comscore announced its State of Streaming Media report for 2023. In that report, they announced that 60% of American households with a connected TV have now cut the cord from cable TV and are streaming their content online as cord cutters. This is up from just 37% in May of 2023.
The report says the amount we stream is also going up as we now watch over 11.5 billion hours of streaming media in a year. That is up from 9.6B during the same period the year before. It is also reported that ad-supported streaming captured the bulk of new viewing as cord cutters look to ad-supported services to save money.
“While the top US streaming services are keeping up with the demand for subscriptions, new growth can be observed in FAST streaming platforms like Roku, Pluto and Tubi which are increasingly consolidating their position in the household mix,” said James Muldrow, Vice President, Product Management, Comscore. “At the same time, cable/satellite subscribers remain some of the most engaged users in the streaming landscape. With three cable/satellite providers in the Top 10 ranking of video services based on hours watched per household, these findings highlight the success of these providers in offering advertisers consistently engaged streaming audiences.”
Cord cutting was once seen as no big threat to cable TV giants like Comcast and Spectrum but now has grown. Now, cord cutting has become the driving force in media as cable TV’s market share continues to shrink.
Some other interesting findings from this report:
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