Although the death of cable and satellite pay TV isn't quite upon us yet, it's certainly closer, at least if a new study done on Netflix subscribers is any indication.
The new study found that only 67 percent of Netflix subscribers even have a pay TV subscription, which means that about one-third of subscribers have cut the cord and canceled their cable and satellite services completely.
What's even more enlightening about this survey, done by website Cut Cable Today, is that another nine percent of Netflix subscribers plan on canceling their pay TV subscriptions soon, while another 16 percent are unsure if they'll keep their additional pay TV services in the long run.
This study shows the huge impact that online streaming services, such as Netflix, have on pay TV. Although that impact was once small, it's growing by leaps and bounds every day as people embrace paying less for Internet plus a streaming service to watch television than what they would pay for a cable or satellite subscription.
Netflix users are also very happy with the service, nearly overwhelmingly so. Over 90 percent of Netflix subscribers stated they planned to keep the service and have it one year from now.
So, what does this mean? It means that consumers have grown weary of paying $80+ for cable and satellite and like the less expensive streaming services. It also means that consumers prefer content on demand, watching what they want when they want on whatever device they choose. This trend will only continue to grow, and it's likely other networks will scramble to embrace the world of Internet streaming.
Of course, some pay TV networks have noticed this trend and responded. This year, HBO became the first premium TV network to offer a standalone streaming service for its content. Premium network Showtime quickly followed and created its own standalone streaming service, but also signed a deal offering its content to Hulu subscribers at a small additional cost per month.
Of course, most cord cutters don't just watch content via Netflix, they also have subscriptions with other services, such as Hulu, although the study found that Amazon Prime was most often the choice of Netflix subscribers for additional content.
Which services are best for you? Read our guide comparing the top three streaming services available.
Via BGR
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