Since the pandemic of 2020, the number of streaming services cord cutters and Americans were willing to pay for has gone up. With everyone stuck at home, TV was seen as an escape. Add in new and exciting services launching around that time, with Disney+ launching in late 2019, and you can see why the number of services people paid for went up.
In 2019 the average American watched 3.7 different streaming services. These can include both paid services like Disney+ or free services like Pluto TV. By 2022 the number of services people used peaked at 7.4 services. Now though in 2023, that number is starting to drop and is down to 6.4 services used. This all comes from a report made by Hub Research, who looked at how Americans watch TV.
The drop in the number of services used is likely happening because of multiple reasons. Costs are a strong reason for this but not the only easy. You also have to consider now that many Americans are getting back to life post-pandemic, they are watching less TV.
We are also seeing recent price hikes pushing 56% of cord cutters to cut back on the number of streaming services they are paying for. This is not a sign of cord cutting slowing down but instead of the maturity of cord cutting.
Increasingly cord cutters are learning what they really want and need. This idea you have to have everything for most people is just not accurate. (Also, is it even possible to watch everything on every service?)
Cord cutting is still in its early years. Cutting the cord may now be the most popular way to watch TV in the United States, but we are still learning our way. Over the next five years, how we watch TV will likely dramatically change. This will come as TV providers rush to bring more content to stream, and the number of streaming services will like to drop as cord cutting matures.