One of the biggest arguments around cord cutting is the question of whether can you still save money by streaming vs cable TV. Now, thanks to a few studies we can get a good idea of how much money cord cutters can save on average.
Earlier this month, a new report from the Leichtman Research Group, we get a good idea of exactly how much live TV has gone up by over the last five years. According to the report, the mean pay TV bill from places like Comcast and Spectrum, along with streaming services like YouTube TV, is now $112.70 a month just for TV.
According to a report from Digital Media Trends from earlier this year the average American spends $48 a month on video streaming services.
This works out to be $64.70 a month in savings and $776.40 on average a year.
Now there are a few catches with these numbers. For live TV includes very basic local-only TV packages. That $112.70 also includes streaming-only options like YouTube TV, Fubo, and more. That means many cable TV customers are paying way more than $112.70 a month on just TV once you count in the cost of all the hidden fees. Comcast now charges over $40 a month for RSN fees and broadcast TV fees. You also have monthly device rentals that can really add up depending on how many TVs you have.
On the flip side there are many cord cutters who are paying way less than $48 a month by subscribing to cheaper on-demand-only services like Disney+, Paramount+, Max, and more.
Here are the costs of some of the more popular streaming services’ basic ad-supported plans.
- Paramount+ $5.99
- Max $9.99
- Disney+ $7.99
Total $23.97 a month.
The great thing about cord cutting is the ability to pick what services you want. Only paying for what you want when you want helps many cord cutters save money.