The traditional pay-TV sector saw a decline in subscriptions for the ninth consecutive year according to a new report from S&P Global Market Intelligence. The decline was largely due to cord cutting, with penetration dropping from over 80% in 2011 to 34.4% by the end of 2024. This shift reflects a broader consumer preference for streaming services over traditional cable, S&P said.
"Basic cable networks in the US shed subscribers in 2024 at an average rate of 7.1% as the pay TV universe continues to contract. This marks the ninth consecutive year of the declining subscribers for the industry as consumers trade in their traditional pay TV subscriptions for streaming services and other digital options."