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Cable Companies Lose Big As Netflix Sees Huge Subscriber Gains In Q2 2015

netflixAmericans continue to leave overpriced cable TV companies in 2015. Predictions for subscribers who canceled their video packages—from cable, phone, and satellite providers including Comcast Corp. and Dish Network Corp.—range from about 280,000 to 360,000, based on analysts’ estimates compiled by Bloomberg.

While 300,000 still seems very low that would be a noticeable jump from the 189,000 customers lost in the same quarter of 2014. Bloomberg also reported that cable companies are expecting heavy losses in the third quarter 2015 for the United States.

“The good news is that Q3 sounds better, but we are still looking at heavier losses relative to prior year,” Wells Fargo analyst Marci Ryvicker the managing director and senior equity analyst at Wells Fargo said in a note to clients.

We should start getting a more detailed look at what losses all the cable companies have over the next two weeks as quarterly reports are released. Comcast will be the first to report their second quarter results and may have lost 71,000 subscribers. Other cable and satellite providers will report their second quarter results in the days and weeks to follow.

During the same period, Netflix gained about 880,000 US subscribers, bringing Netflix’s total subscribers to over 60 million worldwide. These numbers may also be why Comcast now has more Internet subscribers than cable TV subscribers.

In similar news…

When Sling TV was announced, Mohu Antenna sales doubled over the same period from the previous year, according to the CEO of Mohu Antennas in an AMA earlier this year.

Source: Bloomberg

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