Cord-cutting, which is when households cancel their subscription to cable or satellite TV, is driving more consumers to stream video through connected TV. Over six million households were expected to cord-cut in 2020, bringing the total number of cord-cutter households to 31.2 million. That number is estimated to grow to 46.6 million total cord-cutter households by 2024, or more than a third of all U.S. households.1 This presents a huge opportunity for brands to incorporate streaming TV advertising into their media strategies.
In addition to cord-cutters, there are also “cord shavers,” who are minimizing their pay-TV plans but still using streaming services. And then there’s a growing number of “cord nevers”—people who have never paid for TV subscriptions or premium channels.