"Despite the continued presence of Netflix and other over-the-top services – if taken as an operator Netflix would now be Europe’s third largest operator behind Liberty Global and Sky Europe – pay-TV continues grow with little talk of cord cutting as is the case in the United States. “The appetite for pay-TV services is increasing quite dramatically,” said Keen. “The quality of services, technically and content-wise has been increasing dramatically. People want to see it and have been taking out the subs.”
http://www.broadbandtvnews.com/2016/...e-opportunity/
US is a very expensive TV market which does not enjoy the same competition as European markets do. The average monthly revenue per user in the US is $86 v $29 in Europe. It is the high cost in the US that is driving cord-cutting and this is not a feature of European markets.
I'm not however saying that the live TV/on-demand TV ratio is not moving of on-demand content; it is.