Cord-cutting is spreading quickly, with the number of people who ditched their cable company in the last quarter increasing by as much as an estimated 300 percent.
Chartered Financial Analyst Andy Hargreaves, who works as a senior research analyst for Pacific Crest Securities, tells Fortune that he estimates that the top eight cable companies lost 463,000 subscribers in the second quarter of this year — more than triple the 141,000 subscribers lost in the same quarter last year:
“We see nothing to suggest this will change.”
Leichtman Research Group found that the 13 largest pay-TV providers in the U.S. (which represent about 95 percent of the market) lost about 470,000 net subscribers the second quarter of 2015 — a 54 percent increase from the 305,000 subscribers lost in the second quarter of last year.
Bruce Leichtman, president and principal analyst for Leichtman Research Group, says in a news release:
“The top pay-TV providers lost about 470,000 subscribers in the traditionally weak second quarter, with net losses in 2Q 2015 exceeding the previous low-water mark of about 360,000 losses in 2Q 2013.”
Leichtman’s research found that as of the end of the latest quarter, the top pay-TV providers each had at least 10 million subscribers and were as follows:
- Comcast
- DirecTV
- DISH (including Sling TV)
- Time Warner Cable
Leichtman also found that, among the 17 largest cable and phone providers in the U.S. (which represent about 94 percent of the market), the net number of broadband, or high-speed, Internet subscribers went up by about 360,000.
As of the end of the latest quarter, the top broadband providers (those with at least 10 million subscribers each) were as follows:
- Comcast
- AT&T
- Time Warner Cable
If you’re considering cutting the cord, check out our guide “How to Choose the Right Cord-Cutting TV Service.”
Do you still subscribe to cable or satellite TV, or have you switched to Internet-based TV? Let us know which service you’ve liked best so far — leave a comment below or on our Facebook page.
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