33 million to cancel traditional cable TV in 2018

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(CNN) -- Variety Magazine reports that by the end of the year, a massive number of people will have ditched traditional cable and satellite TV.

The number of consumers canceling those services in 2018 and not resubscribing will rise 32.8 percent to 33 million adults.

That's according to estimates from the research firm "E-Marketer."

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

The biggest factor for the increase in the "cord cutting" trend appears to be price.

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