Cord-cutting is happening faster than anyone predicted
Cable companies are terrified by the onset of "cord-cutting," the term that analysts have attached to the trend of young people not wanting to fork over $120 a month for a mostly-useless cable TV package. Cord-cutting has the potential to completely change the way we watch content, by cutting out the middleman and having a more direct path from production directly into our brains, destroying a multi-billion-dollar industry in the process.
If you're the exec of a cable company and that sounds like bad news, it's about to get worse. A new report by eMarketer shows that ad revenue on traditional TV is down compared to last year, and the number of people expected to cut the cord in 2017 is up to 22 million. Yikes.
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