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Consumers To Scale Back Cable, Satellite TV

CNN Money.com, Tuesday, May 4, 2010 12:51 AM

One in eight consumers will eliminate or scale back their cable, satellite or other pay-TV service this year, according to a new study released this week by Yankee Group. The study, which was the result of a survey of pay-TV operators and more than 6,000 U.S. consumers, found that many will choose to drop premium channels or cut their service down to a basic package, while others will choose to cut off their service completely.

There are a combination of factors, including a growing number of battles between cable companies and networks, soaring Internet video viewings and an increase in connected TVs and devices. But the biggest reason why customers will cut the cord, according to the study, is the growing cost of pay-TV service. Cable and satellite viewers pay an average of $71 per month, and they receive an average annual price hike of 5%, according to research firm Centris.

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