Cord cutting is sweeping the nation as more people find alternate sources of entertainment other than expensive cable contracts. Altogether, cable companies are hemorrhaging millions of customers every year as price plans for cable packages increase.
Back in 2018, the Federal Communications Commission’s Report on Cable Industry Pricing showed an expanded basic cable plan cost an average of $73.08 per month, not including equipment rentals, taxes, or other fees.
Comparitech reports that as of June 2022, cable bills increased to an average of $217.42 per month, including bundle packages and additional fees. The report states cable is “more than all other utility bills combined.”
For 2022, Comparitech averages electric and gas to have cost $135.60 per month, water bills averaged $54.90, and garbage an average of $15.00 monthly. Altogether, these three bills total $205.50 a month, $11.92 less than signing up for cable.
In comparison, the average internet-only plan costs an average of $60 to $90 per month according to a 2022 analysis from Consumer Reports. Having internet only can provide consumers with nearly the same, if not more, entertainment options than traditional cable.
With a growing number of free streaming services, more people are becoming cord cutters. While a lot of free streaming platforms have ads, they are comparable in quantity to traditional cable packages so subscribers aren’t noticing much difference after bouncing from cable, other than a decrease in monthly expenses.
Even signing up for a paid streaming subscription in addition to a monthly internet bill can help save customers a lot of money. A growing number of streaming platforms are even bundling together different subscriptions to create a one-stop app.
For instance, Disney bundles Disney+, ESPN+, and Hulu. Amazon offers additional subscriptions at a discounted rate when Amazon Prime members sign up for multiple channels through its platform. And recently Warner Bros. Discovery launched Max which hosts HBO Max content as well as Discovery+.