Survey: Cable TV Is A Failing Business

Cable TV Box

While 59% of U.S. adults subscribe to cable TV right now, a new survey found that percentage will drop to 25% within the next few years, reports Media Player News.

The study, “How We Watch Now: U.S. Consumer Streaming Habits on YouTube and Other Connected TV Platforms,” comes from Pixability (www.pixability.com), a provider of software and insights for video advertising on YouTube and other leading connected TV (CTV) platforms. The study is based on a survey of more than 700 U.S. adults over 18.

Among those who will be cutting the cord, more than half (63%) will do so within the year. Among the 25% of adults who say they will still have cable in a few years, the highest concentration is adults over the age of 65.

According to the survey, YouTube viewers are now almost as likely to be watching YouTube on their TV as they are on their mobile device, and 83% of U.S. adults who watch YouTube do so on their TV, making it the 2nd most popular device behind mobile (93%).

“While we’re all aware of the shift from traditional TV to connected TV, this study revealed that the shift is accelerating faster than many people suspected,” said David George, CEO of Pixability, in a statement. “As this shift continues, YouTube’s viewership on TV screens is growing exponentially and it has become the top ad-supported platform for CTV reach — and a new mainstream option for TV advertisers.”

Other major findings of the study:

• In addition to YouTube, four other AVOD services (Hulu, Roku, Peacock, Amazon Fire) comprise almost all ad-supported CTV viewing;
• YouTube has a greater reach than any other streaming platform, reaching 87% of U.S. adults and 97% of those 25-34;
• Consumers spend roughly an hour a day on YouTube and consume multiple categories of content — over 15 on average; and
• 90% of Gen Z and Millennials in the U.S. now watch YouTube on TV screens.