Cord-cutting is continuing its rise across American households. According to a new comScore report many of those cutting off cable are instead turning to services like Netflix (55%) and Hulu (52%) to get the content they’re missing from cable’s service. And they’re using OTT products like Apple TV, Amazon’s Fire Stick, Roku, and others.
by Kristina Knight
Just how many US households have cut the cable/pay TV cord? In 2018, Statista notes that 33 million US household had cut the cable TV cord and they predict that number will rise to about 39 million by the end of 2019. By 2022, Statista predicts just over 55 million US households will have cut cable’s cord.
Back to comScore’s data two-thirds (66%) of American households with WiFi are now using OTT services. Growth for OTT, however, has slowed from 17% in March 2018 to 7% in March 2019. Smart TV’s are one area still showing significant growth at 23% YoY.
What are consumers watching rather than cable? User-generated content on Youtube remains a favorite, however, Netflix holds the top spot for viewers and is watched by most (75%) of OTT households. Youtube, by comparison, has only a 55% penetration, and Amazon Video holds 44% penetration. Hulu rounds out the top 4 at 33% penetration amongst OTT households.
Just how loyal are cord-cutters? According to data out from Hub Entertainment Research, quite loyal – at least to one. Their data shows nearly half (44%) of consumers would keep Netflix if they could only keep one video subscription service.
Why Netflix? Because Netflix releases the most original content – from series to movies. About two-thirds (69%) of younger viewers (aged 16-34) and about half (46%) of older viewers (those over age 35) say original content – that first seen on a service like Netflix – makes them more interested in a series or movie.
Just over 40% of younger viewers associate “original” with “Netflix”.
By Kristina Knight
Kristina Knight is a freelance writer based in Ohio, United States. She began her career in radio and television broadcasting, focusing her energies on health and business reporting. After six years in the industry, Kristina branched out on her own. Since 2001, her articles have appeared in Family Delegate, Credit Union Business, FaithandValues.com and with Threshold Media.