One of the most common questions about cord cutting is how much money can be saved by cutting the cord on cable TV. Thanks to our recent poll of over 1,000 cord cutters, we can get a clear picture of how much they truly spend.
According to our readers, more than 66% of cord cutters pay $50 or less each month for services. Only 23.5% of our readers spend $51 or more per month.
Here’s a complete breakdown of how much our readers spend on TV programs each month.
READ MORE: Roku Dominates Cord Cutting, With More Than 62% Of Cord Cutters Using Roku Players And TVs
5.7% spend between $0 and $10 each month.
10.1% spend $11 to $20 each month.
12.5% spend $21-$30 every month.
19.9% spend $31-$40 per month.
23.9% spend between $41 and $50 each month.
23.5% spend $51 or more each month.
4.5% declined to answer or stated that they do not pay for video services. (This group is not among the 66% of cord cutters who pay less than $51 per month.)
READ MORE: Data Caps Are Becoming A Larger Issue For Cord Cutters
So, with services like YouTube TV, Hulu + Live TV, and Fubo costing more than $70 per month, how come cord cutters only pay $50 or less? The truth is that most cord cutters do not use live TV streaming services.
According to Leichtman Research Group, over 7 million Americans will cut the cord in 2023, but just 1,894,000 new subscribers will sign up for a live TV streaming service such as YouTube TV.
READ MORE: Roku Is The Undisputed Leader In Cord Cutting, With Over 66% Of Cord Cutters Using Roku Players
The average cord cutter is increasingly determining that on-demand services such as Disney+, Paramount+, and HBO Max are sufficient. This helps Americans keep their monthly TV expenditures under $50, even though most of these firms offer options for less than $10.
The question now is whether fresh price increases for streaming will encourage cord cutters to cut back even more.
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