The trend of cord cutting won’t be slowing down, more cable TV subscribers expected to cancel their service in 2024.
In a survey conducted by consumer experience consulting firm DISQO, 30% of cable TV subscribers said they would discontinue their service next year. The study, which canvased more than 3,000 adults from DISQO’s audience, also found that 58% of streaming subscribers would keep their current offerings, with 21% expected to increase their subscriptions, and another 21% expecting to reduce them.
The study reflects an overall belief that inflationary concerns will continue to affect costs, leading to an overall cautious financial expectation for 2024. Inflation, despite the Federal Reserve keeping rates unchanged this month, remain the top concern, followed by global conflict.
The study noted that those concerned about inflation were more than 30% more likely to spend less on travel, dining out, live entertainment, clothing, and cosmetics.
More than two-thirds of the respondents said they spend $100 or less on cable and streaming services combined.
The results come in a year where price hikes hit virtually every service — streaming or cable. It’s led to the increasing popularity of free, ad-supported streaming services like Roku Channel or Pluto TV, which offer a cable-like “live” experience with hundreds of channels.