It's no secret that cable companies are struggling to keep consumers from cutting the chord.
According to a recent report by the Parks Associates, consumers think that cable services are a poor value in today's market.
"The primary driver for pay TV cancellation and downgrades continues to revolve around pricing and perceived value. While some consumers consciously plan to use OTT video services to address the absence of pay TV content, most consider each offering on its own merits," said Brett Sappington, senior director of research at Parks Associates in a press release.
Not to mention, there are so many streaming services under $15 a month with OTT content ready for binge-watching. There's Hulu, Netflix, and Amazon Prime, all of which have become wildly popular.
Roku also recently launched its own free streaming service. Disney is launching a streaming service too. Fox News is launching a new on-demand service at the end of this month. The company is shooting to release its content platform by the end of 2019, according to the Disney CEO Bob Iger.
Apple is expected to launch its own platform in the near future. So its no wonder that consumers are cutting the chord and instead investing in one or a few streaming platforms to watch TV shows or movies.
According to the Parks Associates' recent report, consumers are mainly cutting the chord because they think cable has become too expensive.
Read more about how streaming services are stealing cable companies' customers at "Streaming Media."