Consumer Rebellion, Not Streaming, Is the Real Cause
Lessons from 50 Years of American Cable TV and Implications for Global Pay-TV Markets
【USA】 2010: 105M → 2025: 66.1M → 2026: 54.3M
Half of Subscribers Evaporated in 15 Years — The Collapse of American Cable TV
【KOREA】 H1 2025: 36.23M Pay-TV Subscribers (↓138,546 vs Prior Period)
Declining for Over a Year Since First Drop in H1 2024
U.S. Key Metrics (2025)
• Cable TV subscribers: 66.1M households (down 3.7% YoY, down 34.6% from 2010 peak of 105M)
• 2026 forecast: 54.3M households (projected 17.8% plunge)
• Traditional Pay-TV penetration: 34.4% (down from 80%+ in 2011)
• Cord-cutter households: 77.2M (projected 80.7M in 2026)
• Streaming viewership share: 44.8% — First time exceeding Cable (24.1%) + Broadcast (20.1%) combined (44.2%)
• Pay-TV revenue: 2017 $100B → 2025 $83.4B ($16.6B evaporated)
• Average cable fee: $147/month (premium $200+) vs. multiple streaming under $70
• Cord-cutting reason: 86.7% cite 'high price'
• Traditional Pay-TV (Q1 2025): 49.6M households (less than half of 101M from 11 years ago)
• Streaming penetration: 99% of U.S. households subscribe to at least one streaming service
Korea Key Metrics (H1 2025)
Source: Korea Communications Commission (November 24, 2025)
• Total Pay-TV subscribers: 36,226,100 (down 138,546 vs prior period)
• IPTV: 21,414,521 (59.11%) — +104,270 (only segment growing)
• Cable TV (SO): 12,091,056 (33.38%) — -182,044
• Satellite: 2,720,523 (7.51%) — -60,772
• Decline trajectory: Continuous decline for over a year since first drop in H1 2024
Part 1: The Beginning of the End for the Cable TV Era
Historic Turning Point: Streaming Surpasses Cable + Broadcast
In May 2025, a historic turning point was reached. According to Nielsen's integrated viewing share Gauge, streaming viewership (44.8%) exceeded cable (24.1%) and broadcast (20.1%) combined (44.2%) for the first time ever. This is not a temporary phenomenon but a structural shift. Over the past four years, streaming viewership increased 71%, while broadcast declined 21% and cable dropped 39%.
By December 2025, the gap widened further. Streaming services reached 47.5% while cable TV fell to 20.2% — an all-time low.
According to S&P Global Market Intelligence, pay-TV's nine consecutive years of subscriber decline shows "no indication of stabilization." As of Q1 2025, traditional pay-TV (cable + satellite + telco) subscribers stood at 49.6 million — less than half of the 101 million from 11 years ago.