Forrester Research has some bad news for cable executives hoping to reach younger adults over the next 20 years. The tech and market research firm released a new study which found that by 2025, 50% of U.S. adults under the age of 32 won’t pay for a cable subscription service.

Forrester surveyed over 35,000 Americans and discovered 24% of respondents currently don’t pay for cable. Of this percentage, 18% are cord-nevers, or consumers who have never in their lives purchased a cable subscription (unlike the remaining 6% of cord-cutters, who had cable at one point but cancelled their subscriptions). According to Forrester, 2015 marked the year when the percentage of cord-nevers beat out the percentage of cord-cutters.

James McQuivey, an analyst at Forrester and one of the co-authors of the study, believes that by the end of 2015, 65% of adults ages 18-31 will be subscribed to cable, with the remaining 25% being cord-nevers and 10% cord-cutters. The latter two statistics will increase over time until 2025, when the odds are stacked 50/50 for cable-nevers/cable-cutters and cable-havers.