The number of people paying for Cable/TV services continues to decline in the U.S. as streaming services from the likes of Netflix, Inc. (NASDAQ:NFLX) continue to be a new trend. With shows like House cards on offer for as little as $8 a month, the demise of cable-packages is set to continue as they are now considered high-end at $40 a month. More Men than women according to Bloomberg’s Olivia Sterns are sticking to the cord mostly because of ESPN on cable networks.
Netflix, Inc. (NASDAQ:NFLX) is attracting traffic on its wide array of content as more people continue to opt out of cable subscriptions that are expensive compared to streaming packages.
“For the first-time ever, Cable subscriptions are falling in the U.S. people are watching more and more TV than ever but the trick is they are just doing it online. As a result, the growing number of us are cutting the cord on pricey cable bundles. Cord cutters, in fact 12.5% of millennia’s those aged between 18 and 34 have already made the cut,” said Mrs. Sterns.
Netflix, Inc. (NASDAQ:NFLX) will continue to gain more subscribers who are not into sports as it continues to offer quality content for as little as $8.99. The need for fast internet speeds is also growing with Time Warner Cable Inc. (NYSE:TWC) feeling the heat on increased competition from Verizon Communications Inc. (NYSE:VZ), which is offering higher speeds out of fiber-optic technology.
Netflix, Inc. (NASDAQ:NFLX) is also gaining more female viewers than male as cable networks continue to be the dominated by sporting events than quality original content.
“Millennia’s who don’t cut the cord tend to be men who want to have their ESPN. Half the cost of the average cable package is sports so for people who don’t care about Romo or would rather be binge watching Netflix it can make a whole lot of sense,” said Mrs. Sterns.
Carl Icahn‘s Icahn Capital Lp holds close to One million Netflix, Inc. (NADSAQ:NFLX) shares.