Revenue of U.S. cable and pay TV providers 2005-2022

The U.S. cable and pay TV industry has experienced significant shifts recently, with revenues declining between 2021 and 2022 to 92.42 billion U.S. dollars. The long-standing trend of consistent growth of traditional television stopped in 2018, as viewers are increasingly opting for on-demand streaming alternatives.

Advertising remains king

Advertising and program revenue continue to be the major contributors to the industry's financial health. In 2022, U.S. cable and pay TV providers generated around 57 billion U.S. dollars in revenue from advertising and programming, underscoring the ongoing importance of advertising in the traditional pay TV sector, despite the rise of streaming platforms and digital video advertising.

Cord-cutting driven by cost and content availability

Cost remains the primary factor for terminating pay TV, with nearly three-quarters of respondents in a 2024 survey citing cable's expense as their main reason for canceling their service. Additionally, many viewers no longer feel the need for cable to access desired content, turning instead to streaming platforms. This shift is particularly pronounced among younger demographics - 15 percent of the U.S. population aged 18 to 34 years are extremely likely to cancel their pay TV subscriptions within the next year. Meanwhile, older viewers stay more loyal to traditional cable services.