Cord cutters say they are saving an average of $115 per month, according to a new survey, which also found that within five years more than half of current cable customers doubt they’ll still subscribe to traditional pay TV.
At a time when pay-TV subscribers are eroding, the poll, conducted by personal finance website LendEdu, indicates things may not be getting any easier for the traditional TV business.
In the poll, 58% of cord-cutters said they cut the cord because their TV cable subscription was too expensive; 21.2% said they used their cable subscription less because of streaming services; and 11.8% said their cable subscription didn’t provide the content they wanted.
The survey puts the average cost of traditional pay TV services at $116.93 per month.
A smaller number of cord-cutters, 4%, said the resented the “greed” of cable companies.
The vast majority of cord cutters, 71.6%, said they used streaming services before dropping cable. The average cord cutter in the survey had 2.77 streaming subscriptions before cancelling traditional pay TV.
The cord-cutters said they paid $33.74 per month on streaming before cutting the cord. After cutting the cord, they spent $35.33 on streaming services.
Read more at B&C.