The results from LendEDU's Cost of Cable survey revealed that cord cutters are saving a considerable sum of money after making the decision to snip their cable subscriptions: $115.33 per month to be exact.
"A previous LendEDU poll of strictly millennials found that 59 percent of this generation was using Netflix subscriptions that did not belong to them," Mike Brown wrote.
"The result of more than one-third of cord cutters using online streaming subscriptions that they do not pay for: the same entertainment value, but $51.38 that is staying in their pockets each month."
This just means Cord Cutters have that much more to upgrade their high-speed internet options! The newest AudienceSCAN study showed 11% of Americans cut the cord, so internet providers can target them directly.
"On the subject of monthly expenditures, the study found that cord cutters are spending slightly more on streaming subscriptions than they were before they axed traditional cable. This is to be expected, as dropping cable creates a bigger demand for content; demand that is fulfilled by adding more online streaming services."
"Additionally, current cable consumers are spending the least amount on online streaming services, $30.87, but their overall expenditure is still much higher due to more than $100 going toward cable each month."
The latest AudienceSCAN study found 17% of Cord Cutters intend to pay for high-speed internet service for their homes this year.
"When we asked cable subscribers if they used their cable subscriptions or online streaming subscriptions more, the results were quite tight. In close to a 50/50 split, 52.13 percent of cable subscribers say they use their cable more, but 47.87 percent stated they use their online streaming services more."
"The majority of cord cutters – 58.6 percent – said they got rid of cable because their subscription was too expensive. About 21 percent said they used cable less because of online streaming services and 11 percent said cable didn’t provide the content they wanted," bizjournals.com reported.
TV advertisers can keep chugging along, because the most recent AudienceSCAN study reported 26% of Cord Cutters still get TV programming over-the-air (using an antenna).
"The average cable user also subscribes to about three online streaming services and spends about $30.87 a month on the extra subscriptions."
"More than 42 percent of people stay loyal to cable because they like the ability to channel surf, while 35.2 percent said they like not having to depend on their WiFi connection to watch shows."
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. Media companies and agencies can access AudienceSCAN data through the AudienceSCAN Reports in AdMall.