More than a quarter of total US households have reported plans to cancel their cable TV subscription this year. Despite the growth of streaming customers, over half of US viewers aren't willing to spend more than USD 20 on streaming subscriptions.
There are 77.6 million US households with cable, satellite, or telecom TV packages, reflecting a 7.5% year-over-year decline. The traditional pay-TV industry is projected to lose 31.2 million subscribers this year.
Media market giants have space for 3 million more additional SVOD customers. Despite cord-cutting increases, the average US household has continued to spend USD 900.
Digital live sports viewership will grow by more than 14% this year as a result of organic growth and accelerated cord-cutting. Despite sports suspensions and delays, 36.5 million people in the US will watch live sports digitally this year.
The Multiscreen Index's latest report indicates that the top ten service providers lost over 2 million subs in the first quarter of 2020 and now have a total of 74.65 million television customers. Pay-TV subscriptions declined 1.8 million, dropping the annual rate of decline to 7.6%.