It’s safe to say that streaming has experienced an explosion in popularity, but that trend is seemingly not going to end any time soon. According to a survey from The Trade Desk called Future of TV, people are planning to leave cable TV in their droves.
One factor which has been applied to this pattern is the ongoing pandemic, which has resulted in higher numbers of people resorting to entertainment options at home – which, of course, is primarily streaming movies and TV shows.
The survey revealed some other interesting information – those who watch live sports have switched their habit so they watch on platforms such as streaming services and social media, as opposed to traditional cable services.
However, this shift is not coming with a frivolous spend on money. The survey also showed that just over half of US consumers would not be willing to spend over $20 a month on streaming subscriptions, opting for lower cost platforms supplemented by ads.
Tim Sims, chief revenue officer at The Trade Desk, said: ‘COVID has accelerated cord-cutting trends that were already underway, to a point where less than 50 percent of U.S. households today have a cable subscription. It’s not because U.S. consumers have fallen out of love with TV, but that there are now more convenient ways of consuming it.’
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