February 1, 2018
Cord cutters are saving an average of $115.33 a month by nixing cable, according to a survey from personal finance site LendEDU.
LendEDU surveyed 500 cord-cutters who canceled their traditional cable services within the last two years and 500 consumers that are still using a cable subscription for their homes.
Cord cutters are also saving an average of $51.38 a month by using online streaming subscriptions that are not theirs, the survey found. About a third of cord cutters (34%) use a service that isn’t theirs.
Cord cutters did spend a bit more on streaming services after cutting cable, an average of $35.33 a month versus $33.74 before.
Meanwhile, even cable subscribers spent an average of $30.87 a month on streaming services, and just over half (52%) of that group said they used their cable service more than streaming. Still, that means 48% of cable subscribers said they use streaming more — an ominous sign for the future of cable, according to LeadEDU
“As the years go by and cable is rendered useless, due to online streaming services becoming more robust, one would have to imagine these results will reverse,” the report stated.
Even the majority of cable subscribers (56% versus 44%) said they would consider cutting the cord, according to the survey.
“Chances are that if cable users are already thinking about cutting the cord in mass, it will happen eventually,” the report stated.
For more on the report visit: https://lendedu.com/blog/cord-cutters-saving-money/