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Streaming service subscribers (free or paid) increased again (68% in 2016 vs. 63% in 2014) and has caught up with the percentage of Paid TV service providers (67%) for the first time ever, according to the Consumer Technology Association's new study, The Changing Landscape for Video and Content.
Data: Consumer Technology Association; Chart: Lazaro Gamio / Axios
Why it matters: The rise of streaming services represents a shift in consumption habits towards cord-cutting, primarily amongst millennials. Cord-cutters are opting to ditch their bundled cable packages for more affordable, niche content services that can be accessed on TV box tops or on mobile. Earlier this week, YouTube revealed its paid virtual cable package, with an array of channels for $30 and $40 a month. Per The New York Post, 21st Century Fox, Hulu, Disney and Comcast also plan to launch similar services.