The Cord-cutting movement in America may have seemed like a trend at first, but the latest reports indicate it may be the norm before too long. The news comes on the heels of several cable and satellite companies admitting they've lost a lot of subscribers from July to September. In total, it's believed 1.1 million people jumped ship from cable and satellite and may now be riding the wave of streaming as bonafide cord-cutters.
The quarterly loss is reportedly the biggest loss the industry has seen, according to research firm MoffettNathanson (via USA Today), and the first time cable and satellite companies have collectively lost over a million subscribers in a quarter. One of those companies, Dish, lost 341,000 subscribers, compared to last year when it gained 16,000 around the same time. While Dish saw a massive exodus, it did gain about 26,000 Sling TV subscribers.
Dish wasn't the only loser on satellite either as AT&T reported DirecTV lost 359,600 subscribers. Much like Dish, the only gains in subscribers it saw was 49,000 subscribers that joined up with its streaming service DirectTV Now. While some are joining up on the streaming side, it's not enough to outbalance the people leaving. The study indicates that folks are going elsewhere for their streaming needs, with a possible reason being the streaming services satellite offers are too pricey.
Cable providers saw some losses as well and reported 293,000 subscribers leaving in the quarter. The losses, however, weren't as bad for cable as they were for satellite as the number was down from this time last year. 2017 saw cable losing 322,000 subscribers, which mean 29,000 fewer jumped ship this year.
Comcast saw the largest amount of subscribers leave from that number, as 106,000 of the departed sum came from it. Conversely, the company saw a gain of 363,000 internet subscribers, which could be cord-cutters looking for internet packages for their streaming. So while the cable provider may be losing one avenue of revenue, it's possible it may make up for it in other areas down the stretch.
The news comes after speculation that cord-cutting had slowed after top pay-tv providers experienced its lowest net losses in four years from April to June. The loss was only 415,000 subscribers, and came at a time experts claim is traditionally a "weak quarter". This latest news appears to be proof cord-cutting is not slowing, and streaming is here to stay.
Pay-TV is still fine, but the crown appears to be slipping further from its head as time goes on. In 2013, 86% of U.S. households subscribed to some form of pay-TV service. Now, that number is reportedly down to 78% which shows more and more are switching over. That said, it still feels as though it will be awhile before the scale tips and there are far more cord-cutters in America than pay-TV families.
Whether folks are cord-cutters or pay-TV subscribers, CinemaBlend has the latest news regarding their favorite TV shows. For a look at what shows are coming over the next few weeks, be sure to visit our fall premiere guide. Also for cord-cutters who want to know the best of what's coming to Netflix each month, subscribe to The Cord-Cutter Podcast!
