3 On Your Side: TV Viewers More Likely Than Ever To End Their Cable Or Satellite Subscriptions
By Jim Donovan
PHILADELPHIA (CBS) -- TV viewers are more likely than ever to end their cable or satellite subscriptions. As 3 On Your Side consumer reporter Jim Donovan finds, younger viewers are leading the exodus.
When Josh Hurwitz and Ellen Saltzman watch TV they grab the remote but there's no cable box to point it at. Everything they watch is online.
"When I finally cut the cord and got rid of cable I didn't feel like I lost out on very much," said Hurwitz.
The couple get their TV shows from online streaming services like Netflix and Hulu and they are part of a growing trend of people dumping cable.
A recent study finds 3.7 percent of people plan to end their cable service. That's up from 1.9 percent in 2011.
That big push coming mostly from younger people who never felt the need to have cable.
"I didn't even have a TV in college, a couple of my roommates did, but I just watched on my computer," said Saltzman.
"I imagine that this will continue to grow," said Mike Vorhaus with Magid Advisors.
About 30 percent of people quit cable because of the cost but almost half do it because they're happy with what they can find online.
And that content continues to grow with more and more media companies offering streaming services.
"I do think this will be more common in the years ahead and it's really just starting now," said Vorhaus.
Cable and satellite companies are cutting rates in an effort to keep customers.
But analysts say that likely won't stop a steady a steady stream of people from cutting the cord in the future.
The survey also found that 61 percent of people with cable are interested in getting a smaller number of channels for a lower price. What may be more telling, 20 percent of those surveyed say they've never subscribed to a pay TV service.