A new study released today shows that approximately 32% of US TV households don’t have a traditional pay TV subscription. Another 25% of households identified as “cord shavers” or those who have cut back their pay TV service. The study asked those who called themselves cord shavers how likely they were to cut the cord fully within the next six months and 45% said they were likely to do so.
The annual cord cutting survey from Roku, conducted by MACRO Consulting Inc., showed that 4 out of 5 households who have already cut the cord are satisfied with their decision. 63% shared that they wish they had cut the cord sooner.
While this survey was conducted in March, we now know that the pandemic has continued to cause an increase in streaming. For many households, the hold on live sports played a major part in the decision to switch to streaming. That said, only 17% of recent cord cutters surveyed said that would re-subscribe to traditional pay TV when live sports are back.
Unsurprisingly, saving money was a top priority for survey respondents. Cutting home entertainment costs was the top reason for cutting the cord in the past 90 days, followed by access to a free or extended free trial to a streaming service. On average, Roku users who cut the cord saved approximately $75 per month on home entertainment.
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