Do a quick Google search for Cable & Satellite Penetration in the U.S. and you will see many different numbers.
There are numbers from companies that benefit from cable degradation, they tend to show the highest decline of cable. There are numbers from reliable research organizations such as The PEW Research center, Statista, Leichtman Research Group…Those numbers are not quite as high but they are similar. Whatever numbers you choose to believe it is clear traditional cable is on a steep decline.
People have not stopped watching, they have just changed how & who they watch. Viewers have shifted to CTV and as a marketer or advertiser, there are amazing benefits for you. CTV combines the impact of TV with the attribution and precision of digital. CTV growth has lead to increased addressability. Rather than target traditional age, gender, & programs, addressability lets advertisers target purchase intent, interest, income, lifestyle, and more. With A strong CTV partner, advertisers also receive a full suite of digital attribution to evaluate and improve campaign results.
The numbers that I am sharing are from a March 17, 2021 article from The PEW Research center. Their numbers indicate that cable & satellite penetration in 2021 is at 56%.
Pew has further broken down cable penetration those numbers by age groups. It is not surprising that adults 65 plus are holding on to cable and adults 18 to 29 are the least likely to subscribe sitting at just 34%. A 30-64 are the middle majority.
Reasons cited for not subscribing to cable
1, People can view the content they want for Free
2, The cost of cable or satellite is too expensive
3, They do not watch TV often