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Sorry Comcast and CenturyLink, millennials are cutting the cord

Bad news for cable executives.

Here is some research that will strike fear into the hearts of cable executives – millennials mostly watch TV through online streaming services.

Some 61 percent of 18 to 29 year olds primarily consume their TV content via streaming services, with only 31 percent saying they watch mainly through a cable or satellite subscription, according to the Pew Research Center.

The data speaks to a young generation of "cord-cutters" who prefer to pick their own media options rather than pricey cable deals with hundreds of channels.

The advent of Netflix, Hulu, Amazon Video and HBO Go, along with live TV streaming services like Sling, PlayStation Vue, DirecTV Now and YouTube TV, is seeing younger consumers shun traditional TV packages.

Read more from The Tip Jar: Are online streaming packages cheaper than cable?

Cable is still king among all American adults, with 59 percent saying they primarily consume television this way, but this figure is dragged upward predominantly by older consumers.

Some 70 percent of 50-64 year olds say they mainly consume TV through cable packages, while that figure rises to 84 percent among those aged 65 and above.

Pew says the findings show "how much the internet and apps have shifted people's access pathways to media and some types of content in recent years."

Among the other finding of the study is that men are more likely than women to primarily access TV through online streaming, with women more likely to use cable.

It also found online users are more likely to be college educated.

Those earning less than $30,000 meanwhile are more likely than others to consume their TV the cheapest way – via a digital antenna.

Fourteen percent of those earning less than $30,000 consume their media primarily this way, compared to just 5 percent of those earning more than $75,000.

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