Teens are abandoning TV in droves

People have been talking about cord-cutting for a few years now, but it's finally starting to happen, and teenagers are leading the way.

TV is still the number-one medium where people spend their time. But over the last five years the amount of time Americans aged 12 to 17 spend watching TV has dropped more than 25%, from more than 24 hours at the beginning of 2011 to less than 18 hours at in the first quarter of 2015.

This spells good news for video-on-demand services like Netflix and Hulu, as well as Internet video distributors like Google's YouTube and Facebook. But it's not as dire as it might seem for cable TV providers, as those companies are also the top internet service providers in the US.

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