Report Sees Increase in Cord Cutting

TORONTO: A new report from The Convergence Consulting Group estimates that 3.74 million Americans cancelled their pay-TV subscriptions between 2008 and 2012 in favor of over-the-top platforms; this number is expected to rise to 4.7 million by the end of this year.

The report also indicates that on average, 18 percent of weekly viewing audiences watched one to two episodes of a show on a broadcast or cable network website or via partner distribution site such as CBS Audience Network or Hulu. This is forecast to fall to 17 percent this year and next, due to the growth of Netflix and Amazon, rising DVR usage, the increase in online advertising on free video sites and the greater availability of authenticated on-demand services via pay-TV platforms and subscription websites.