For about a year now Cord Cutters News has talked about how cord cutting’s growth is slower than expected. Now a new study from Concentric suggests that this will once again be true, and it seems to be extremely pessimistic about cord cutting’s future.
According to Concentric, cord cutting will only grow by 17% in 2019. They also predict that live TV streaming services will only reach 15.5 Million homes in 2024 a far lower than expected number.
“The way we consume content is changing,” said Dejan Duzevik, chief product officer and solution architect for Media & Entertainment at Concentric. “OTT providers like Netflix, Amazon and Hulu are disrupting the space, generating buzz about the death of traditional models like cable and broadcast. But consumers won’t be cutting the cord as soon as we might think. Concentric’s TV industry simulation forecasts that OTT subscriptions will continue to grow, but cable is here to stay—for now. Instead, we will see major changes across providers as cable, broadcast, OTT and satellite evolve to meet consumer demands.”
Many have pointed to the extremely strong economy as one of the main reasons for cord cutting not meeting projected growth targets.
With all the gloom and doom, it is important to remember that cord cutting is growing faster than ever and is projected to continue to speed up. Yet reading reports like this one seem to paint a very dark picture for the future of cord cutting.
Other reports, like one from UBS, paint a very different picture as they predict cord cutting will dramatically speed up in 2019. According to USB, 20% of Americans plan to cut the cord in 2019.
So, which study will become true? For now, we will have to wait, but what we do know is cord cutting right now is growing faster than ever.
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