from the meet-the-new-boss dept
For greater than a decade, cable TV executives brushed apart the concept of cable TV “twine slicing” as both a nonexistent risk or a non permanent phenomenon that wound finish as soon as Millennials began procreating. After all, none of that wound up being true, and client defections from the bloated, dear conventional cable TV bundle proceed to set data throughout the COVID disaster.
New information signifies that as of the tip of final yr, 27% of U.S. properties have ditched conventional cable and now subscribe solely to broadband, up from 9% simply three years earlier. The variety of households that solely watch TV utilizing over the air antennas (OTA) additionally slowly ticked as much as 15 p.c. All advised, 42% of American properties now not have cable TV, a quantity that’s solely going to develop.
The three yr trajectory shift is pretty stark whenever you lay all of it out in graphic kind:
Don’t really feel too unhealthy for cable TV giants like Comcast and Constitution, nonetheless. Whereas they may be dropping conventional cable TV market share to streaming, TikTok, YouTube, video video games, and good-old-fashioned rooftop antennas, they proceed to be rising their monopoly over the fixed-line broadband entry that powers all of it, particularly on the sort of next-generation speeds most customers are searching for (100 Mbps and above).
Consequently Comcast and buddies can usually recoup any losses on the TV finish by nickel-and-diming you to demise on the broadband finish, whether or not that’s with obnoxious sneaky charges or utilization caps and overage costs that serve no technical operate past ripping off captive subscribers.