As the trend of cord cutting continues, Netflix is about to have more subscribers than cable providers. In a survey by Pricewaterhouse Coopers, it was found that 73 percent of respondents subscribe to Netflix and pay for TV services.
Over the last few years, cable subscribers dropped from 79 percent to 73 percent. It is almost certain that the cord cutting trend will continue while Netflix will continue to bring in new customers. After showing massive subscriber growth earlier this year, Netflix remains on track to surpass traditional TV.
The main reason that consumers still pay for TV is access to live sports. An astounding 82 percent of those surveyed said they would end or reduce their TV packages if it were possible to watch sporting events live. Sports fans are likely to pay approximately $23 per month to obtain unlimited access to live sporting events.
Another reason that users choose not to ditch paid TV services is the number of different services required to watch all of their favorite shows. On average, cord trimmers use five different paid services to get all of their content. However, 75 percent of respondents felt overwhelmed when using more than four services in addition to paid TV.
Streaming is still growing in popularity with 46 percent of respondents reporting they have acquired new streaming services within the last six months. Obtaining content over the Internet is most popular among younger demographics and slowly decreases in popularity with age. Consumers between 25 and 34 years old are now 90 percent likely to view TV content online.