The revolution is happening. Cord-cutting is on a path to becoming the new norm…but it still has a long way to go. A report created by the Video Advertising Bureau found that cord-cutting household numbers tripled since 2013. Back in 2013, approximately 5 million had cut the cord. Now, a whopping 14.1 million do.
While that sounds great, and it is, that’s only 11% of American households. That means millions more are still paying the hefty cable prices. The research reported that a majority of the 14.1 million people have at least two streaming services. 32% reported having three or more. Also, the report projected that this trend of shying away from traditional cable models will continue to grow.
As a form of evolution, networks are turning toward into their own MVPD (multichannel video programming distributor). Services like HBO Go and CBS All-Access have become standalone entities. In order to survive, more networks may be following suit. This could make the competition harder for companies like Netflix and Hulu. It will be interesting to see how the future of cord-cutting evolves.