Cutting the Cord: Streaming services gearing up to lure away cable TV customers

SAN JOSE, Calif. (KGO) -- There may be new reasons to "cut the cord" on cable TV. Apple and others are spending billions to expand their presence in streaming video and other content to consumers.

We're hooked on entertainment, but how it comes into our homes is changing rapidly. Over a million cable customers cut the cord in just a three-month period last year. Consumers like Lydia Tirado of Castro Valley say paying $200 a month is too much.

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"They're very high in cost and very much in consideration of cancelling it altogether," she said.

Over 100 internet-based streaming services are taking the place of cable-- some with familiar names, some you may not know. Two of America's best known companies, Disney and Apple, will be launching streaming services this year.

An individual streaming service might run between $8 and $20 a month, which might seem like a bargain compared to a cable TV bundle. However, streaming services are spending billions of dollars to line up big-name talent and producers to create unique content. Consumers might end up subscribing to multiple channels in order to get the content they want.

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Apple is said to have lined up actresses Octavia Spencer, Reese Witherspoon, and Jennifer Aniston, along with director Steven Spielberg for original shows. It's anticipated a launch date might be announced on Monday.

Disney has a deep vault of blockbusters and new films for its streaming service. Disney is the parent company of ABC7.

The streaming leader is Netflix, and consumers will see fierce competition.

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"There's a risk right now that consumers are so overwhelmed by the amount of content out there that it can become a self-defeating situation where people just shrug their shoulders-- you know what, I'll just take a kind of a pause on it right now before I sign up for anything," said Mark Vena, technology analyst with Moor Insights.

With billions invested, it's going to be a battle for eyeballs.