Cable and satellite providers are in the midst of slow, but growing television crisis. In 2014, 8.2% of former television subscribers ditched their pay-TV subscription, a 1.3% year-over-year increase. This cord-cutting trend has left television providers such as Time Warner Cable , Comcast Corporation, and DISH Network looking to alternative ways to bring subscribers back.
One option has been to provide their own over-the-top services, such as DISH's Sling TV, which gives users a cheaper alternative to pricey monthly packages. Similarly, Time Warner Cable recently announced that it's testing its own over-the-top system in New York City, and Comcast is trying a similar offering, called Stream.
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And while this may be a good step toward getting cord cutters -- many of which are millennials -- to come back to pay-TV, it's not the entire strategy. A recent survey conducted by Altman Vilandrie & Co. and EPIX found that cable providers could convince some cord-cutters to come back to pay-TV if those customers only knew that they could watch television programming whenever and on whichever devices they wanted, also known as TV Everywhere.
The problem is that nearly two-thirds of all consumers don't know that their providers have this option. Click on the following slideshow to find out how promoting TV Everywhere could help fix some cord-cutting problems for television providers.
The article How Can TV Providers Attract Millennials? Tell Them They Can Watch TV Anywhere originally appeared on Fool.com.
Chris Neiger has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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