For years, we have seen those in the TV industry laugh off and deny the realities of cord cutting. But now, even the biggest deniers are seeing that US telecom companies are dealing with stock declines due to cord cutting enablers such as Netflix.
In Canada, we are also seeing a record number of traditional TV customers move off their TV plans and onto strictly broadband plans. Some estimates put the number close to 20% of Canadians who had previously purchased a traditional TV package.
The report, which came out in May, said more than half of Canadians currently without cable television have “cut the cord,” meaning they had a television subscription and cancelled it. – TheStar
What is the biggest reason for this change? According to the research, people were getting tired of the bloated, expensive TV packages that they rarely if ever watched.
Worse for the TV industry, even more people in Canada are thinking about cutting the cord. The report notes that while 20% of TV subscribers were interested in cutting the cord, nearly a third of them have taken steps towards the cut.