Cord-cutting is one of the biggest talking points in the world of entertainment these days. With streaming networks like Netflix, Amazon Prime, and Hulu offering ever more entertainment options, many consumers are opting to kick cable and satellite to the curb. But what about “cord-shaving?”
While plenty of consumers are outright bailing on cable and satellite, for a variety of reasons, it’s actually fewer than you might think. For example, a recent study determined that around 67% of Netflix users still have their cable or satellite subscription. Now a new TiVo survey has shined further line on this trend of “cord-shaving” — cutting back on one’s pay-TV subscription without outright cancelling it.
According to the TiVo survey, over a fifth (21%) of respondents in the United States said they were “extremely likely” to downgrade their cable and satellite service within the next six months. This shouldn’t be surprising. Customers have long complained about pay-TV bundles forcing viewers to throw down cash every month for tons of channels they’ll never watch. Comparatively, 13% of respondents said they might just go all in and cut the cord entirely. The numbers were lower when you factor in respondents outside the United States, with 11% considering cord-shaving and 8% likely to cancel their pay-TV services.
Another trend on the rise is customers keeping multiple streaming subscriptions simultaneously. Some 58% of those surveyed said they have more than one streaming service, and 45% reported owning multiple streaming devices, such as Roku, Chromecast, and Amazon Fire. Netflix is the clear leader among streaming services according to the survey, with 81% of U.S. respondents reporting having a Netflix subscription. That’s well above Amazon Prime at 50%.
Clearly, many consumers are still mixing and matching to suit their entertainment needs. Given that streaming subscription services like Netflix and Amazon Prime don’t give viewers access to current TV as it airs, this will likely be the case for a while…unless Hulu can conquer the pack.