Consumer intent to cut the cord and drop pay TV is up, according to newly released research.
Though the percentage of people getting video content from broadband is small, cord cutting worries the TV industry. The number of pay-TV subscribers dropped last year and the trend could accelerate as more content goes on line and mobile devices become more powerful and popular.
According to Frank N. Magid Associates, 2.9% of pay-TV subscribers say they are “very likely” to cancel their pay TV in the year ahead, up from 2.7% last year and 2.2% two years ago.
The urge to cut the cord is strong with young adult consumers. Among 25 to 34 year olds, 49% say they are very likely to cut the cord.
Sports is a powerful reason to keep cable, according to the study. Only 1.4% of ESPN viewers are a likely cord cutter.
“These are very small numbers in terms of future cord cutting from American consumers, but in mass media, very small numbers are very important, too,” said Mike Vorhaus, president of Magid Advisors.