Netflix Catches Up to Cable TV

The number of Americans who subscribe to cable TV is now the same as the number who subscribe to Netflix, according to a new report from PricewaterhouseCoopers (PWC).

Of the 2,000 people aged 18 to 59 who were interviewed, 73 percent said that they subscribe to a traditional pay-TV package, down 3 percent from 2016, and 73 percent said they subscribe to Netflix.

The report also revealed that 46 percent of survey respondents shed pay TV accounts in 2017 — either cutting the cord on cable entirely or “cord-trimming” certain accounts — and that the number of people who stream TV content over the internet is growing across age groups, especially in the 50-59 age group, where 63 percent now report streaming versus 48 percent in 2016.

Eight in 10 subscribers of traditional pay TV said they would trim or cut their cable subscription if it was no longer needed to access live sporting events, and 52 percent said they would pay a premium to watch live sports on more devices. Sports fans said they would be willing to pay around $23 a month on average for unlimited access to live sports on any platform.

The survey also showed that the TV-watching public is more drawn to having a wide variety of content (37 percent) than having access to exclusive content (27 percent).