The evidence is mounting that even though cable TV customers are not cutting the cord en masse, they are cutting back. New research from Altman Vilandrie & Co. presented at OTTCon in Santa Clara, Calif., this week, suggests that about 20 percent of consumers now shave pay TV services, spending progressively less on their packages as more of what they want to watch becomes available online.
About 31 percent of consumers age 18 to 24 have shaved from their cable TV services, the report said. Also, more than 40 percent of the cable TV viewers in that age group said they no long watch TV at its appointed time, because of the flexibility offered by online TV viewing.
Meanwhile, the most rapid growth in cable TV shavers actually occurred in a higher age bracket, with the number of cord shavers between the ages of 35 and 44 rising 9 percent last year to about 28 percent.
The same research found that less than 4 percent of consumers have completely cut the cord on cable TV, far fewer than a Deloitte report suggested in January, but in line with several other reports on the trend. Still, about 20 percent of pay TV customers under the age of 44 told Altman Vilandrie that they have "seriously considered" cutting the cord.
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Deloitte reported a much higher incidence of cord-cutting
The number of broadcast TV-only homes with broadband is rising