The trend of cord cutting is still growing! According to a research in a recent analysis by Moffett-Nathanson, only 34 million Americans have cable TV subscriptions.
In the third quarter of 2023, there were 15 million subscribers to satellite services. From the peak of both programs, that represents a decrease of more than 42 million subscribers. What will become of these subscribers, then? Will they be utilizing on-demand services instead of live TV platforms like YouTube TV?
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Moffett Nathanson reports that the total number of subscribers to live TV services is currently 18 million. According to subscribers, the top live TV streaming services are broken down as follows:
6.5 million people subscribe to YouTube TV. 4.6 million people subscribe to Hulu + Live TV.
2.12 million people subscribe to Sling TV.
1.477 million users of FuboAll figures are approximations.
The Leichtman Research Group estimates that there are 14.697 million customers amongst these four streaming services combined. The remaining users are dispersed across several other streaming services.
About these numbers, there are two important observations. DIRECTV STREAM has stopped reporting numbers. The Leichtman research company estimates that there are 11.85 million DIRECTV subscribers across satellite and streaming. This indicates that 24 million Americans stopped using their satellite or cable TV service and did not switch to a live TV streaming provider.
Americans are moving more and more toward on-demand services like Netflix, Disney+, and Paramount+ from live TV providers like cable TV and streaming.
People who don’t watch sports are also moving to on-demand-only content. According to a recent Variety analysis, live events, primarily sports, accounted for the majority of the top 100 most watched programs in 2023. NFL games accounted for all but one of the top 21 places. With 115 million viewers, the Super Bowl ranked as the most watched program in 2023.
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Before gaining customers for the autumn 2023 TV season, live TV streaming services such as Sling TV and Hulu had a decline in subscribers in the first part of 2023.
Network executives must be concerned about these numbers, which is probably why they are investing so much on their own streaming services. While they haven’t yet turned a profit, streaming services like Peacock, Max, and Paramount+ are thought to be the way forward for these businesses as they have to deal with the rise in cord cutting.
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