Big Cable Is Bleeding: 500K+ Subscribers Lost In Q3
There’s now even more evidence that subscribers are cutting the cord and opting out of paying for cable: By adding up subscriber losses from four of the top five cable companies, we found that more than half a million users have ditched their cable companies. The carnage began last week when Comcast announced it had lost 275,000 basic cable subscribers, but it has continued as Time Warner Cable, Charter Communications and Cablevision have all reported major subscriber losses of their own. No. 2 cable provider Time Warner Cable announced today that it shed 155,000 cable subscribers during the third quarter, which included 46,000 digital video subs. Yesterday, Charter Communications reported that it lost 63,800 basic cable subscribers during the previous quarter. And Cablevision said this morning that it shed 24,500 subscribers during the same period, including about 5,000 digital video subscribers. Add that all together and you have more than 500,000 customers that left their cable providers last quarter, and that’s just data from four of the top five cable companies that have reported earnings. (No. 3 cable provider Cox Communications is privately held and therefore doesn’t have to announce its subscriber losses for all the world to see.) No doubt even more subscribers have left some of the smaller, non-public local and regional cable providers over the past few months.
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