A new media survey provides some insights into the number of people who plan to cut off their cable or satellite subscriptions.
According to The Hollywood Reporter, the survey by Frank N. Magid Associates found that about 5 percent of people between the ages of 24 and 34 currently plan to end their pay-television subscriptions.
The findings were presented at the Goldman Sachs media conference in New York.
“Among the wider population of those surveyed, those saying they intend to cut the cord was 2.9 percent, which might not sound like a lot, but would represent millions of customers and is more than the 2.2 percent in 2012 who said they would soon cancel pay TV,” the story notes.
About three-quarters of people who are getting rid of their pay-TV service said they are satisfied with what they can view without the subscriptions, either via streamed shows or digital content, the story adds.
“Not surprisingly, about 40 percent rate their customer service from cable and satellite companies fair or worse,” the piece notes.
The report adds: “The amount of people who say they can’t live without their TV remains steady at 57 percent, but among 18-to-34-year-olds, TV as the primary medium for entertainment is down 40 percent to 21 percent. Those who say they can’t live without their smartphones is up sharply in the last three years — from 22 percent to 50 percent.”