In this article, we take a look at the 20 best alternatives to cable TV, along with recent trends in the cable and streaming industry.
Cord-Cutters in the US
Today, the US entertainment industry is composed of a wide variety of platforms, which means that consumers are always in search of a better alternative to what they currently subscribe to. Due to a rise in cable prices, along with an increase in the number of available streaming services, more and more Americans are unsubscribing from their cable plans.
According to data by the Pew Research Center (PRC), 76% of US adults had a cable or satellite TV subscription in 2015. However, there has been a massive decline in the years since. According to the 2022 State of Viewership report by Samba TV, only 48% of US adults had a cable or satellite TV subscription in 2022. In 2021, PRC also reported that of the individuals who do not have cable access, 71% say that they can access their desired content online, whereas 69% say that the cost of cable TV is too high.
Unsubscriptions due to rising prices have also impacted paid streaming services. On June 13, 2024, Forbes reported that 45% of Americans have canceled at least one streaming service in the past year because of high costs. Despite that, 99% of US households still pay for at least one streaming service. This dichotomy exists because the streaming industry allows individuals to choose from multiple options and retain whichever they find most beneficial.
According to Yahoo Tech, the average cable TV package in the US costs $83 a month, whereas an average user pays $77 a month, in total, for various streaming services. Comparingly, Forbes places the average monthly streaming cost at $46. Moreover, households that subscribe to only one or two streaming services can pay as little as $25 a month. In a nutshell, the streaming industry allows users much more control over their viewing choices, as they can subscribe and unsubscribe as per their budgets.
Snapshot of the American TV Industry
As entertainment sources grow, the American public is pretty divided on how they prefer consuming their content. Nielsen, a data management firm, puts out The Gauge every month, which is a monthly report on consumption across cable, broadcasting, and streaming. According to the June 2024 report, published on July 16, streaming held the highest share in the TV industry at 40.3%. The second spot was held by cable, at 27.2%, whereas broadcast TV’s share was worth 20.5%. The remaining 12% was held by ‘other sources’, which includes all other forms of content viewing, including DVD playback and unmeasured video-on-demand.
According to the report, streaming topped the previous single category share record, which was set by cable for 40.1% in June 2021. Streaming also exhibited the most growth across all categories, growing 1.5 percentage points in a month. Compared to June 2023, streaming’s share of the industry grew by 2.6 percentage points year-on-year. The top streaming platform was YouTube, with a 9.9% share in the entire TV industry. The second most-streamed platform was Netflix, with an 8.4% share of the industry. Netflix was also home to the most-watched streaming title in June 2024: Bridgerton. The show’s third season was released on May 16 and in June, the show managed to gain 9.3 billion minutes of streaming on Netflix.
On the other hand, cable share in June 2023 stood at 30.6%, falling 3.4 percentage points till June 2024. Going further back, cable had a market share of 35.1% in June 2022, falling 4.5 percentage points till June 2023. These trends showcase a steady and consistent decrease in cable viewership, as the number of cord-cutters increases. In June 2024, one of cable’s biggest chunks of viewership came from the CNN presidential debate, which made up the top two cable telecasts of the month. CNN saw 10 million viewers tune in to watch the debate, whereas Fox News saw 9.5 million.
The Growth of FAST Channels
According to June’s Gauge report, noteworthy gains were also seen in the Free Advertising-Supported Streaming Television (FAST) category. This term refers to channels that offer traditional live TV as well as video-on-demand content, with their main funding source being advertising. The FAST platforms Tubi, Pluto TV, and The Roku Channel came up to a combined share of 4.3% in June. According to Nielsen’s report from May, these channels have also showcased massive year-on-year growth, with Tubi rising 43% in usage and The Roku Channel rising 36%. The largest share of FAST channels is currently held by Tubi, which managed to capture 2% of the total TV market in June 2024.
Considering the ever-increasing costs of both cable and paid streaming platforms, more individuals are shifting to FAST streaming because it comes at no cost to the consumer. Even though their market share is nowhere near major streaming players, FAST channels are gaining popularity quickly enough to be noticeable. On July 10, 2024, NBC News reported that according to Goldman Sachs, the FAST industry is projected to grow by 15% annually till 2027. Ross Compton, a media analyst at Wall Street firm Macquarie U.S. Equity Research, mentioned that FAST channels are sustainable because they are free. However, other analysts, such as Brandon Katz from TVRev, believe that despite the growth of this form of TV, we cannot yet predict where it will stand in the long run. There is room for potential, but we have yet to see whether it actually proves to be beneficial in the long-run.
Leading the Streaming Industry
Overall, the streaming industry has replaced cable by a huge margin and continues to grow. According to a report by Grand View Research, the global video streaming market was estimated to be worth $106.83 billion in 2023. The industry is expected to grow at a compound annual growth rate of 21.5% from 2024 to 2030, reaching $416.84 billion by the end of the forecast period. In the current streaming landscape, Netflix, Inc. (NASDAQ:NFLX) is one of the strongest players.
At the beginning of 2023, Netflix held a 44% share of the streaming industry. As of the first quarter of 2024, Netflix has around 269.6 million subscribers, which is a 16% year-on-year increase. According to Nielsen, Netflix, Inc. (NASDAQ:NFLX) has the second-highest share in the video streaming industry, after YouTube. However, it is worth noting that YouTube follows a different model, as it features user-generated content. Thus, in terms of platforms dedicated solely to viewing TV shows and movies, Netflix comes up first. In 2023, Netflix users watched a total of 183 billion hours, providing $33.7 billion in revenue to the company. The company’s average monthly revenue per user is currently $16.64 globally.
As subscriber numbers dip across other platforms, Netflix, Inc. (NASDAQ:NFLX) has managed to increase its subscribers through moves such as a crackdown on password sharing. In May 2023, the company started sending out emails to US-based Netflix users who were sharing their passwords with people outside their households. In the following days, the company announced a 100% increase in sign-ups as compared to their previous 60-day average. In the first three months of 2024, the company added more than nine million subscribers.
In order to keep its growing subscriber base happy, Netflix is also continually expanding its collection of content. On July 16, 2024, AMC Networks announced a newly expanded deal with Netflix, bringing the earlier seasons of 13 different shows to the platform. Previously, this was done for shows like Breaking Bad and The Walking Dead, whose viewership on AMC increased after the earlier seasons debuted on Netflix. AMC has described the new deal as a ‘curated selection’ of shows, all of which will be available on the platform for 12 months.
As FAST platforms increase in popularity, paid platforms like Netflix are able to compete with them because of their cheaper ad-supported plans. In May 2024, Netflix announced that by 2025, the company will launch an in-house advertising technology platform, which will allow advertisers new ways to market using Netflix. Currently, Netflix’s ad-supported plan has around 40 million active users. In countries that allow ad-supported plans, 40% of all sign-ups come from this arena. While Netflix’s ad-supported plan still costs more compared to the free plans of FAST platforms, it allows users to engage with their preferred content for a lower price. This enables Netflix to continue being an affordable platform, even as subscription costs rise.
Lastly, sports is reported to be one of the last avenues that still keeps conventional cable and satellite TV relevant, and Netflix is making an attempt at gaining a chunk of that viewership as well. In January 2024, the company announced a partnership with WWE, aimed at making WWE’s flagship weekly program Raw exclusively available on Netflix. The plan will be implemented in January 2025, after which other WWE-produced shows and documentaries will also be available on the platform. As streaming platforms like Netflix continue to fight for what is left of cable viewership in the US, let’s take a look at the 20 best alternatives to cable TV.
20 Best Alternatives to Cable TV
Our Methodology
To compile this list of the 20 best alternatives to cable TV, we adopted a consensus-based approach. After consulting over ten rankings and reports on the internet, we picked alternatives that appeared in at least 50% of our sources. They are ranked in ascending order of total visitors in June 2024, based on data from Similarweb.
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20 Best Alternatives to Cable TV
20. Apple TV+
Visits in June 2024: 33,500
Apple TV+ is a streaming service by Apple, which only offers Apple original movies and TV shows. It is available for a monthly cost of just $9.99, which makes it a cheap alternative to cable TV. However, Apple TV+ does not offer a wide variety of viewing options, which is why it has a low number of subscribers as compared to other competitors. Currently, the service stands at 25 million subscribers. Despite lesser popularity, the service is home to award-winning content such as Ted Lasso and CODA.
19. Freevee
Visits in June 2024: 62,000
Freevee is an ad-supported streaming service by Amazon, serving as the free variant to its paid Prime Video. It was previously known as IMDb Freedive and IMDb TV. The platform offers 150 FAST channels, along with thousands of movies and TV shows, including Amazon originals. It is currently available in the US, the UK, and Germany.
18. The Roku Channel
Visits in June 2024: 75,100
The Roku Channel is one of the most rapidly growing FAST channels, with a 1.5% share of the total US TV industry right now, according to Nielsen. It is one of the best alternatives to cable TV, with more than 350 live TV channels and over 30,000 on-demand movies and TV titles.
17. Xumo Play
Visits in June 2024: 1.3 Million
Xumo Play, owned by the media company Xumo, is a FAST platform and one of the best alternatives to cable TV in 2024. It offers more than 300 channels across genres such as sports, weather, news, fashion, and entertainment. The platform also has over 10,000 movies and more than 250 TV shows as video-on-demand content.
16. Rakuten TV
Visits in June 2024: 3.4 Million
Rakuten TV is a FAST platform with over 100 live TV channels and tons of video-on-demand content. The company has its headquarters in Tokyo, Japan, as well as in Barcelona, Spain. Currently, Rakuten TV is available in Japan and 43 European countries, including Finland, Germany, Spain, the UK, and Italy. The company also runs Rakuten Viki, a video-on-demand service based in California, which distributes Asian content to other parts of the world.
15. Philo
Visits in June 2024: 5.5 Million
Philo has a monthly subscription of $28 and offers live TV and on-demand content. The platform currently has over 50,000 on-demand titles and over 70 channels. The platform has around 1 million subscribers and is one of the best alternatives to cable TV. Philo TV is only available in the US right now.
14. Fandango at Home
Visits in June 2024: 7.1 Million
Previously known as Vudu, Fandango at Home is a streaming service and digital video store. Users can watch around 10,000 ad-supported titles for free, while also being able to purchase thousands of other titles through Fandango’s store. This flexibility is one of the reasons why Fandango at Home is one of the best alternatives to cable TV, because consumers only need to pay for what they actually want to watch.
13. Sling TV
Visits in June 2024: 8.1 Million
Sling TV is one of the best alternatives to cable TV, with a monthly subscription of just $40. The platform offers around 500 live channels, and over 40,000 movies and TV show titles. Currently, Sling TV has around 1.92 million subscribers. It is only available in the US right now.
12. DirecTV Stream
Visits in June 2024: 11.6 Million
DirecTV Stream offers four paid tiers, with the lowest one being priced at $80 a month. This is called the entertainment tier and offers 75 live TV channels, in addition to on-demand content. Further tiers are priced at $109, $120, and $155, and offer 105, 140, and 150 channels respectively.
11. Pluto TV
Visits in June 2024: 22.2 Million
Pluto TV is a FAST platform that held 0.8% of the entire US-based TV and streaming industry in June 2024. The free platform offers over 250 live channels and thousands of on-demand movies and TV shows. Pluto TV is owned by Paramount Global and has around 80 million active users.
10. Discovery+
Visits in June 2024: 26.9 Million
Owned by Warner Bros. Discovery, Discovery+ is a streaming platform with on-demand content and a few live channels such as Animal Planet, Discovery, and Food Network. Users can sign up for an ad-supported plan at $4.99 and an ad-free plan at $8.99. Apart from the US, Discovery+ is also available in other countries, including India, Brazil, the UK, Italy, and Sweden, among others.
9. Tubi TV
Visits in June 2024: 43.3 Million
Tubi TV is one of the fastest-growing FAST platforms right now. It is also one of the best alternatives to cable TV in 2024. It is currently available in the US, the UK, Canada, and Australia.
8. Paramount+
Visits in June 2024: 49 Million
Paramount+ is a streaming service by Paramount Global that offers video-on-demand and live TV, which includes Paramount-owned channels like CBS and Nickelodeon. The platform currently has over 71 million subscribers and is available in North America, Latin America, and a few countries in Europe. According to Nielsen, 1.1% of the total TV and streaming market in the US was held by Paramount+ in June 2024.
7. FuboTV
Visits in June 2024: 49.7 Million
FuboTV started off as a soccer-streaming service in 2015, but changed to an all-sports streaming model in 2017. Even though its primary focus is still on live sports channels, the platform now also offers other genres, including news, movies, and TV series. The platform is available in the US, Canada, and Spain, and offers various packages priced at different levels. The cheapest plan retails for $32.99.
6. Peacock
Visits in June 2024: 63.8 Million
Peacock offers around 50 live channels and a ton of on-demand content to US-based audiences, including original content as well as those from Peacock channels. In June 2024, Peacock held a 1.2% share of the TV and streaming market in the US. It is also one of the streaming platforms that recently announced an increase in its prices. The ad-supported version will now be priced at $7.99, whereas the ad-free version will be priced at $13.99.
5. Hulu
Visits in June 2024: 152.2 Million
Hulu is mainly a video-on-demand streaming service, but users also have the option of subscribing to its live TV for an additional charge. Hulu’s ad-supported plan is priced at $7.99, whereas the ad-free version is $17.99 a month. Users can choose to subscribe only to Hulu’s live TV for $75.99, or they can subscribe to Hulu (with ads) and the live TV in a joint plan for $76.99. The latter will also allow them to access Disney+ and ESPN+, both with ads. Hulu held 3% of the total streaming and TV market in the US in June 2024.