If saving money is a priority, then you’re probably already a cord cutter. New data from Roku and NRG shows that on average, cord cutters spend less than half what regular pay-TV viewers spend on their subscriptions.
Roku’s State of Streaming Survey which was conducted among more than 2,000 participants who watch at least 5 hours of TV a week (whether streaming or cable) shows the average monthly cord cutting bill is $49, while pay-TV subscribers spend $121 a month on their entertainment.
While cord cutting is definitely a money-saver, it doesn’t mean sacrificing content. Of consumers who cut the cord in the last 12 months, 39% say they’re watching the same amount or more than they did before. On average, cord cutters spend 22 hours per week streaming, compare to 19 hours clocked weekly by pay TV viewers.
More findings show that when viewers want to be in on the latest hot shows, they turn to streaming. In fact, audiences are three times more likely to choose streaming over traditional pay TV when they want to be in on the conversation and watch something everyone is talking about.
And it’s not just the younger generations who want to be in the know. 54% of Baby Boomers say social currency matters to them. While nearly all of Gen Z and Millennials are streamers, the number of Gen X and Boomers adopting streaming is quickly rising. 88% of Gen Xers are streamers, as well as 71% of Boomers compared to 98% and 95% of Gen Z and Millennials.
Boomers are finally embracing streaming wholeheartedly and aren’t looking back. One in four have canceled their traditional pay-TV service in the past year, and 98% of Boomers who cut the cord say they’re glad they did it. Plus, nine out of 10 Boomers who stream say streaming devices are easy to use – something that may have been a deterrent in the past.
Streaming is slowly overtaking the TV landscape as the preferred way to watch entertainment. Four in five TV consumers are streamers versus two in three who pay for traditional TV, and one in four consumers is a cord cutter.