This study by PEW Research Center has asked since the 1970s whether the respondent considers certain consumer goods and services (e.g., microwave, tv set, cable TV service) luxuries or necessities. It has added new categories over the years, such as cell phone and high-speed internet connection.
This year produced significant reversal for a number of items and services, including tv set and cable/satellite TV. High speed access showed a mild increase (3%).
Hardly a death spiral, but you don't stay on top by waiting for a trend to become a death spiral.