Media Technology Monitor (MTM) has released a new report that indicates one in five English-speaking Canadians and one in six Francophones have “cut the cord” and canceled their paid TV service.
MTM says while the majority of Canadians (69% of Anglophones and 74% of Francophones) continue to subscribe to services like cable, fiber optic or satellite TV, many are choosing to forgo paid TV and opting out.
“Cord Cutters” tend to be younger, well-educated and often have children under age 12 in the home, according to the report, which also found that streaming Subscription Video on Demand (SVOD) content and subscribing to multiple SVOD services is higher among Cord Cutters, who spend more time watching SVOD and YouTube content than traditional TV subscribers.
The report also looked at “Cord Nevers,” those who have never had a paid TV service and don’t see the value of subscribing to it.
According to the latest CRTC broadcast sector analysis, the average time spent watching traditional television services has decreased by a compound annual rate of 2.2% or a total of 16.5% since 2013, mostly concentrated outside Quebec.
In the U.S., it’s predicted there will be a 7% decrease in cable and satellite TV penetration by 2030, with an estimated 4.9 million people expected to cut the cord by the end of this year.
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