Cable losing subscribers in record numbers

Apple Online Store“Cable networks lost 130,000 subscribers in the third quarter, the industry’s second straight quarter of sequential declines, estimates Credit Suisse. The pay TV industry, which up until the until the second quarter of this year had never in history posted a decline in customers from one period to the next, could end up losing 1.5 percent subscribers annually if the shift to Internet providers continues, the research firm said,” John Melloy reports for CNBC.

“Netflix, Apple TV, Google TV, Microsoft’s X-Box, and other broadband-based systems are already causing many customers, especially younger viewers, to drop cable,” Melloy reports. “‘Eventually just as mobile phones eroded the need for a land line, the mix of Internet TV choices will cause the cable subscribers to depart their cable providers,’ said Simon Baker of Baker Avenue Asset Management. The money manager is looking to buy companies that help speed up the delivery of content over broadband networks.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

42 Comments

  1. That’s because cable TV is a fucking ripoff! $100 a month to watch 20 shitty channels? America is finally waking up and this is the alarm clock.

    Remember casettes that were eaten by the tape player.

    How about $400 landline phone bills.

    Just like the above scenarios, one day we will try and remember why we paid $1200 or more per year for a worthless service!

  2. I canceled Time-Warner Cable last week. I have my Mac Mini linked to my TV & with subscriptions to Hulu Plus ($7.99) and Netflix ($9.99) my monthly cost has gone from $80 to $18 with far more movies and with TV shows than cable ever offered. As soon as live sports events are available on the internet, cable is over.

  3. @ Tflint: The live sports are available on the internet, some in legitimate spots (MLB at Bat) and others in not so legitimate spots (look for yourself), just not in HD.

    But like lurker says, how do you access the internet, in not via cable?

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