Video streaming services like Netflix (NFLX) Amazon Prime (AMZN) and Hulu are taking the TV industry by storm, prompting some consumers to think twice about keeping their traditional pay-TV cable packages. A report from PwC showed about 79 percent of respondents said they would subscribe to pay TV over the next year, compared to 91 percent last year – meaning one-fifth of consumers could cancel their cable package over the next year. ‘A lot of consumers say they want more control and more convenience over how they experience video and that’s driving a lot of consumers to look for alternatives to traditional pay television,’ said Christopher Vollmer, global entertainment & media advisory leader at PwC’s Strategy&. Some 57 percent of consumers surveyed said high costs were the reason for cutting the cord, or canceling their cable subscription. Vollmer said the rise of streaming services is taking shape across the television household landscape. TheStreet’s Scott Gamm reports.
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