Americans Cutting The Cord At Unprecedented Rates.
Americans are cutting the cord at record rates with nearly half of U.S. TV-viewing adults (48%) eschewing traditional cable and satellite TV services. That’s an all-time high, according to CivicScience. Additionally, only 28% are “not interested” in cancelling their cable or satellite service.
The cord-cutting rate has been taking place at an unprecedented rate in the past seven months and has resulted in more consumers subscribing to streaming TV services. According to the report, 58% of Americans say their household subscribed to two or more streaming video services, such as Netflix and Hulu, in 2021.
CivicScience notes that 48% of U.S. adults had cut the cord by the end of 2021. Toward the end of January 2021, 37% of adults identified at cord-cutters. By June 21, 2021 the number of cord-cutters was 41% and steadily increased through the second half of the year.
The report also revealed that age was the most important factor in determining whether someone is willing to cut the cord on traditional cable and satellite TV, with 70% of 18-34-year-olds reporting that they have done so. The number shrinks as consumers age, with 48% of 35-54-year-olds cutting the cord, followed by the 55-64-year-old cell (30%) and 65+ (19%).
In January of 2021, Netflix was the leader in preferred streaming services, with 63% of respondents saying it offered the best original content. That number dropped to 53% a year later, with 10% of respondents now saying newer competitors HBO Max and Disney+ offer the best selection of original content. Meanwhile, Amazon Prime Video dropped slightly during the year, from 17% in January 2021 to 15% in January 2022. Data for Hulu was not included in the report findings in this instance.
Age is a factor as well in opinions of who has the best original content. Those 65 and older contend that Netflix has the best original content, with 61% choosing the service in their response to the question. The 35-54 (59%) and 55-64 (60%) demos also believe Netflix is the best service for original content. Second favorite among the older demos is Amazon Prime Video. Conversely, only 42% of 18-34-year-olds believe Netflix has the best original content. The 18-34 demo looks to HBO Max for original content, with 14% saying the service has the best original programs.