The number of households cutting the cord accelerated in 2016. The pay-TV industry lost 1.7 million, or 1.7%, of its customers in 2016, according MoffettNathanson analyst Craig Moffett. That’s up from 1.1 million in 2015.
One of the biggest pain points for cable companies is millennials. A recent survey from Videology found just one-third of millennial males plan to pay for television this year. That number is shrinking as 9% of millennials plan to cancel their cable subscriptions this year, according to a survey from Magid Advisors.