We've all heard the stories of the cord-cutters, giving up cable to save money and to become more productive.

But despite these anecdotes, the cord-cutting trend has not caught up en mass and paid TV subscription is still going strong.

Time Warner CEO Jeff Bewkes addressed the phenomenon of the cord-cutters and the cord-nevers (graduates who have never paid for cable after leaving their parents' home or college dorm) at our IGNITION conference this week, saying that with cable's On Demand features, cable has a lot more current content to offer than Apple TV or Netflix do, and it is a lot cheaper than many of the things we spend money on daily.

"These people are paying five bucks a day for coffee. The cable thing cost $2," said the media mogul.

Watch an excerpt of our interview with Bewkes below.

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