If you're like most American families, you probably pay for a variety of streaming subscriptions alongside your regular cable service. Hulu, Netflix, HBO, and other popular products have drastically impacted how we watch television, and in some ways, they might be saving us money.
According to surveys taken over the course of 2017, the number of combined cable and direct broadcast satellite and multichannel subscriptions fell substantially. Millions have decided to part ways with their cable provider, choosing to use streaming services or even free antennae instead. Most people reported that the high cost of cable and satellite TV services was their top reason for cutting the service. Others stated that they just weren't satisfied with the product anymore.
On average, it's estimated that people can save about $1,000 a year by nixing their cable package and finding other ways to binge-watch their shows.
More recently, experts predicted that around 30 percent of American adults won't pay for traditional TV by the time 2021 rolls around. To save money, they'll utilize resources like Dish Network's Sling TV and YouTube TV. Fewer people than ever are selecting bundled channel packages with cable providers, and based on the trends of recent years, it looks like the number of cable cutters will only increase.
Interestingly, this change from cable to streaming services and other products has also led to a decrease in the amount of time people spend watching TV. This could be caused by a variety of factors, including the increasing popularity of social media. Many of us also like to think we're more purposeful with our watching habits when we select a show on Netflix instead of mindlessly turning on a cable channel.
The bottom line is that people want to save money, and with so many other sources of digital entertainment at their fingertips, cable just isn't as necessary as it used to be. People are flocking to less expensive alternatives, and according to future predictions, this a trend that won't end for a long time (if ever).
What do you think? Do you still pay for cable services? Will you continue to in the future? Let us know in the comments.