US TV subscriptions declined by 1.13 million during 2015, with the same amount of households expected to cut the cord during 2016 according to the Convergence Consulting Group.
That’s nearly four times more people cutting the cord than in 2014, according to the Canadian research company which also noted that by the end of 2015, nearly 25 million US households didn’t subscribe to a TV service with a cable, satellite or telco TV access provider.
The ‘Battle for the North American (US/Canada) Couch Potato’ report also showed that OTT access revenue in the US from CBS, HBO, Hulu, Lifetime, Netflix, Noggin, PlayStation, Seeso, Showtime, Sling, Starz and Tribeca grew 29% to $5.1 billion in 2015.
This growth is expected to continue, as those revenues are forecast to hit $6.7 billion in 2016. By contrast, cable, satellite and Telco TV access revenues grew by only 3% in the same time period.