Julia Stoll
Research expert covering TV and video media
Pay TV in the United States - statistics & facts
For many decades, television has been the leading form of home entertainment in the country, with millions of viewers tuning in to watch their favorite shows, news broadcasts, and sports events from the comfort of their homes. But while the United States remains the country with the highest pay TV revenue worldwide, the ongoing proliferation of over-the-top (OTT) video services and streaming platforms has visibly affected (pay) TV viewing behavior and media consumption nationwide. Audiences increasingly cancel their pay TV subscriptions, and after almost a decade of gradual decline, the number of pay TV households in the U.S. dropped to 58 million in 2023. According to the latest data, more than half of U.S. households do not have a traditional TV subscription, a trend that is already transforming the pay TV landscape and its players.
Can cable companies combat churn?
Pay TV, which refers to subscription-based cable or satellite television services, is part of the dynamic media and entertainment industry in the United States. With around 14 million customers in 2023, Comcast Corporation remains one of the leading pay TV providers in the U.S. However, in line with industry trends, the Philadelphia-based company has experienced a gradual video subscriber loss for the better part of a decade. According to the latest estimates, U.S. pay TV providers suffered a combined net subscriber loss of over five million viewers in 2023, and U.S. pay TV revenue also plummeted to 85 billion U.S. dollars in 2023. As many cable TV companies are also among the top providers of broadband internet, companies such as Comcast have leveled out cable subscriber loss by growing internet subscribers and revenues alike.Streaming services are transforming the pay TV industry
Thanks to the ever-expanding selection of linear and non-linear streaming alternatives, more viewers than ever supplement their pay TV bundle or cancel their subscription altogether. According to a recent survey from March 2024, the majority of U.S. consumers stated that they would use subscription streaming services, such as Netflix and Hulu, after canceling their pay TV services in order to meet their entertainment needs. The availability of online video content and the rising costs of pay TV are the main reasons for not subscribing to a pay TV service. As audiences look for flexible, around-the-clock access to unlimited video content, an unprecedented number of viewers substitute their cable and satellite subscriptions for streaming platforms or catch up on their favorite TV program solely via virtual multichannel video programming distributors (vMVPD).
