5 Million Cut Cord

By Jeffrey Rodack, NewsMax, July 18, 2018

About 5.4 million Americans will cut the cord this year with traditional pay-television services, according to a survey.

The results of the survey by New York consulting firm cg42 were detailed in a report by MarketWatch.

The cord-cutting will mean a $5.5 billion loss in revenue to pay-television services, according to cg42. The number of those cutting the cord is up from 4.8 million in 2017.

Comcast is predicted to lose 7.2 percent of its 21.3 million subscribers this year for a potential loss of $1.6 billion. MarketWatch said the cg42 estimate is based on the survey data and information from public filings. According to the MarketWatch report, cg42 also estimated AT&T’s DirecTV will lose 4.8 percent of its 24 million customers for a potential $1.2 billion loss.

“As the process of finding alternative paths to content gets easier and easier, people are acting on the frustrations they have with traditional providers and leaving,” said cg42 managing partner Stephen Beck.

The survey found Netflix is used by 73 percent of those cutting the cord, followed by 46 percent who are using Amazon Prime and 29 percent using Hulu Plus.

The results of the online September survey, which polled 3,385 people, were released Tuesday. No margin of error was provided in the report.

https://www.newsmax.com/newsfront/millions-cutting-cord-pay-television/2018/07/18/id/872346/