Cutting the cable connection to coax connector illustrating people cancelling cable TV service

Cord Cutting Is Growing Faster Than First Reported

Cutting the cable connection to coax connector illustrating people cancelling cable TV serviceEarlier this month it was reported that 1 million Americans canceled traditional pay TV in just three months. Now updated numbers are coming out that put the number at about 1.2 million Americans who canceled cable TV in just three months.

This all comes as numerous earnings reports show a flood of cord cutting. When looking at traditional pay-TV losses, DISH lost 367,000, DIRECTV lost 346,000, Comcast lost 106,000, Spectrum lost 66,000, and Altice lost 28,000 subscribers. (The numbers are likely even higher because many smaller cable companies have not announced their losses.)

This works out to about 13,000 Americans canceling cable TV every day.

What we are seeing is most of these people are not picking services like Sling TV or DIRECTV NOW. Although almost a million people canceled cable TV in just three months, less than 100,000 of them replaced it with Sling TV or DIRECTV NOW.

So, what is happening? It seems most Americans have decided that when they cancel cable they don’t need a live TV streaming service to replace it. This could be the nightmare situation many cable executives have feared. Many had hoped services like Sling TV and DIRECTV NOW would gain subscribers at a similar rate that cable TV was losing them; however, it just doesn’t look like that is happening.

Source: USA Today

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