Acumen Insights

Millennials Quitting Cable

PWC says there’s a shakeup happening in television and video among viewers under the age of 35. In the past year, cable TV subscriptions among 18-24 year olds dropped from 77 percent to 71 percent and from 73 percent to 67 percent among 25-34 year olds. Pay TV subscribers who also subscribe to Netflix has increased, from 56 percent to 65 percent among 18-24 year olds and from 51 percent to 71 percent among 25-34 year olds.

Consumers cited frustration with paying for cable channels they don’t use as a motivation for dropping Pay TV service, and 41 percent said they would prefer an a la carte system. In the long run, 61 percent of current subscribers said they still would be cable subscribers in five years—but when asked if they’d be subscribers in 10 years, only 42 percent said yes.