Cutting the cord: 5 alternatives to cable

As Charter Communications and Time Warner Cable go about their merger, it's time to think outside the box. And there are more options than ever for people who want to cut the cord.

Nationwide, there are some 100 million pay-TV homes, according to research firm IHS. But 7% of such homes are expected to drop their service or switch to an online video app instead, according to a recent consumer service study by Digitalsmiths, a data firm.

If you're ready to take the leap, here are 5 alternatives to cable that might be right for you:

1. Sling TV If you're a sports fan and/or want to watch live coverage of an event, Sling is a good option. The online streaming service from Dish Network connects viewers to around 20 channels for $20 a month, including ESPN channels, TNT and TBS, which carry NBA and MLB games. The service recently added AMC to the lineup, as well, so you can catch The Walking Dead. For $15, you can add HBO to your package.

2. HBO Now Entertainment addicts may have resisted the switch to online streaming because they don't want to miss their favorite HBO shows. With the recent launch of HBO Now available through Apple TV, iPhone, iPad or iPod touch, those worries are gone as they would have access to all of the network's original content. Yes, that means you can watch Game of Thrones, Girls, True Detective and more. Users can also set up an account and watch programming on HBONow.com. . Price: $14.99 per month..

3. Netflix If you're not invested in watching TV programs when they're broadcast and would rather just turn on a movie or binge watch a series at your leisure, Netflix ($8.99) could be the right option for you. The streaming service has also delved into popular original programming, including Orange Is the New Black and House of Cards.

4. Amazon Prime Much like Netflix, this service allows users to stream movies, cable TV shows, documentaries and more from their devices. The service also allows unlimited photo storage, music and access to Kindle books. Price: $99 a year.

5.Hulu Plus For $7.99 a month, customers can watch many top cable shows a day after they air. Plus, a large selection of movies are available for viewing.

If you need help deciding if ditching cable is right for you, go to our guide to see which streaming service fits your (news, sports and entertainment) needs.