Pay TV subscribers dropped 6.2% in the third quarter of 2022, compared to 5.2% decline in the third quarter of 2021.
“Streaming penetration reaching maturity in the low 80% range implies newer cord cutters are not necessarily new potential streamers,” the report’s authors say.
“Rather new cord-cutters are more lIkely existing streamers that were allowing many media companies to double-dip from both streaming and traditional pay tv subscriptions.”
Streamers without pay TV service now comprise 44% of U.S. TV homes in the fourth quarter of 2022 -- up from 42% in the previous third-quarter period.
The study also says that 38% of streaming homes are those with a pay TV service (down from 39% in the previous quarter) with 18% share comprised of non-streamers (19% in the previous quarter). This data for pay TV excludes virtual pay TV services.