Are you still paying for cable TV, thinking it is cheaper than cord cutting? A new look at the true cost of cable TV from Mntn Research puts a lie to those claims. It also shows the crazy high price that Cable TV charges and how it ads up over the years.
According to the report, the average cable TV bill just for TV is now $147. The worst part of it is they report that 92% of the channels in these packages are never watched by the subscribers. In total, every year cable TV subscribers are now paying $1,764 per year for TV. This works out to be $17,640 just to watch TV over 10 years.
Now that $17,000 price assumes that the cost of cable TV won’t keep going up. It is very likely that the price could be considerably higher over 10 years. This comes as almost every year, it seems cable TV companies are raising the price of their TV service.
According to Demandsage, the annual median income in the United States in 2023 is $56,940. That means cable TV just for TV costs the average American just over 3% of their yearly income. With inflation eating into our wallets, it is easy to see how people are wondering if cable TV is worth handing over their hard-earned money.
With live TV cord cutting service ranging in price from $6.99 for Frndly TV to $74.99 a month for DIRECTV STREAM and Fubo, you can see why millions of Americans are canceling cable TV every year.
By swinging to DIRECTV STREAM or Fubo cord cutters will save almost $9,000.
“Over half of all customers polled—62%— think they’re wasting money on their monthly TV bill. Further, 45% say they’d cancel their subscription altogether if their cable wasn’t attached to the internet provider—a sign that cable’s strategy to bundle services together and keep people subscribed is causing people to feel “locked in” rather than elect to pay for cable TV. As the monthly bills—and frustrations—grow, these consumers will likely start looking for alternatives, including ISPs that don’t force cable TV packages.” Mntn Research said in a statement on their website.
The question now is, with prices going up, if you are not a sports fan, will Americans continue to pay for expensive live TV services? Increasingly it seems that most Americans are saying no live TV is just not worth it.