It’s not surprising news that people are cutting the cord in droves. AT&T lost a million paid TV customers in the fourth quarter of 2019 alone. But if a prediction from a top industry executive holds true, we may soon see a big tipping point – a time where more people don’t subscribe to cable than do.
Speaking on the future on the television industry, Roku CEO Anthony Wood wrote this in a letter to investors: “We have now entered the streaming decade when we believe consumers around the world will choose streaming as their primary way of viewing TV,” he wrote. New services and established services that sink money into original content are driving more and more viewers away from traditional pay TV.
By the year 2024, he predicted, a full 50% of homes in the United States will either have either cut cable or never had it at all.
What’s the cause? For most people, it’s simply price. But for others, it’s the fact that there are so many streaming options available today, there’s something for almost any taste.
You can get a cable-like bundle of more than 100 live channels like YouTube TV and Sling, you can select from dozens of paid on-demand services like Netflix and Hulu, or you can take advantage of completely free streaming services with smaller selections like Tubi and Pluto. Whether you want to keep up with the latest hit shows or just have the TV on as background noise, you can find an option that’s just right at a fraction of the cable price.
Whether or not the big change comes by 2024 remains to be seen, but it’s almost certain to come at some point. If big cable companies want to survive, they have to continue to adapt.