Pay TV and Cable Lost 5.8M Subscribers in 2022
by Frankie Karrer
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The fact that consumers are continuing to cut-the-cord on their cable subscriptions most likely won’t surprise any marketers who have been paying attention to the TV landscape over the last few years. But research from media analysis firm MoffettNathanson just might – their recent report found that the number of traditional pay TV households in the U.S. could equal the amount of non-pay TV homes in the next few years. They forecast that the number of households sticking with traditional pay TV will shrink to around 55 million homes, which is on par with the estimated non-pay TV homes expected in that time frame.
However, one group of consumers has been slower to let go of their cable subscriptions: sports enthusiasts. According to MoffettNathanson, all 9 million subscribers who left pay TV in the past two years don’t identify as sports viewers. And according to Michael Nathanson, “…there are 53 million households who describe themselves as regular sports and news viewers that we are assuming, all things equal, to be the bedrock floor of the pay TV world.”
But as the traditional pay-TV audience continues to shrink, many networks and media companies are eager to get live sports on streaming platforms, as seen with NHL on ESPN+, and NFL on Peacock, Paramount+, and Amazon Prime Video. Ultimately, with still more than 30 million U.S. homes at risk of leaving traditional pay TV, many advertisers will be looking to Connected TV in order to continue reaching those consumers who have cut the cord.
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