The numbers are in, and cord cutting is growing faster than ever. Earlier it was reported according to an Informitv Mulitscreen Index report that 1.28 million American households dropped traditional pay TV in the first three months of 2019. Now though there is an updated report from Leichtman that says that number is closer to 1.325 million American households in the 1st quarter of 2019.
That works out to be over 14,700 Americans canceling cable TV every day. (Up from the earlier 14,000 figure we reported last week.) At this rate, cord cutting will grow by over 5.3 million in 2019.
“There were losses across the top 10 television services in the United States, with even the DirecTV Now online service losing customers following previous heavy promotion. Between them, they lost over one-and-a-quarter million subscribers in three months. They still command a significant number of customers but the rate of attrition has increased,” said Dr. William Cooper, editor of the Informitv Multiscreen Index, in a statement on their website.
This means cable and satellite TV are down to about 81 million subscribers. Cord cutting has 30 to 35 million members and is growing. At this rate, cord cutting will quickly close the gap with cable TV over the years to come.
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