Study: 33 million to cancel traditional cable TV in 2018

(KRON/CNN) — By the end of the year, a massive number of people will have ditched traditional cable and satellite TV, according to Variety Magazine.

It reports the number of consumers canceling those services in 2018, and not re-subscribing, will rise 32.8 percent to 33 million adults.

At the same time, a growing number of consumers are signing up for internet-based video services like Netflix, Amazon Prime Video, and Hulu.

The biggest factor for the increase in the “cord-cutting” trend appears to be the price.

As the cost of satellite and traditional cable TV rises, more and more consumers are flocking to lower-cost, web-based video services.