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September 01, 2020 10:18am
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Estimate: 800,000 U.S. Households Abandoned Their TVs For The Web

Are you a cord-cutter, or do you want to be? Have you had enough of paying your cable company through the nose for 800 channels, when all you really watch is maybe 20 or 30? With an increasing selection of high-quality TV fare coming online, more people are experimenting with ditching their TVs (or more accurately, their cable and satellite TV subscriptions) for online options such as Hulu, Netflix, broadcaster Websites, or Apple's iTunes. The numbers are still small, but last year an estimated 800,000 U.S. households cut the cable cord altogether, according to a new report by the Convergence Consulting Group . By the end of next year, that number is forecast to double to 1.6 million. Cord cutters don't yet represent a serious threat to the $84 billion cable/satellite/telco TV access industry, which counts an estimated 101 million subscribers. But they are a leading indicator of the shift to TV viewing on the Web. The cord-cutters make up less than 3 percent of all full-episode viewing on the Web. The rest comes from people who are only beginning to watch occasionally online. An estimated 17 percent of the total weekly viewing audience watch at least one or two episodes of a full-length TV show online. Last year, that percentage was 12 percent, and next year it is forecast to grow to 21 percent.
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