The rise of Netflix and other online streaming services has caused more and more consumers to cut the cord and discontinue their traditional TV subscriptions. Forrester’s new report identifies the trends that drove cord cutters to drop their service provider as well as why others have not yet discontinued their traditional TV service.
Below are some of the key findings from the report:
- The number of cord cutters has doubled over the past three years, from 3% of the population surveyed in 2013 to 6% in 2016.
- During the same period, the number of likely cord cutters has more than doubled from 9% in 2013 to 19% in 2016.
- The top reason for cutting the cord and considering cutting the cord is the cost of traditional TV service.
- 48% of married couples are cord cutters, but only 28% of older Millennials (28- to 36-year-olds) are cord cutters.
- Among streaming services, Netflix (60%) was perceived as having the most interesting original content, followed by HBO Now (45%) and Hulu (41%).
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