Report: More Than 1 Million Pay-TV Customers Canceled Service Last Year Bloomberg

With options such as Netflix and Hulu available to consumers, about 1.08 million pay-television customers canceled their service last year, reports Bloomberg, citing a report from Convergence Consulting Group.

That means the total number of consumers to have cut their service from cable and satellite operators has reached 3.74 million since 2008, the story says. This year, the total will reach 4.7 million.

Still, the percentage of people canceling service last year was only 1.1% of all pay-TV accounts. But that's slowing growth in pay-TV subscriptions, with the industry only forecast to add 98,000 accounts this year.

“Even with the ‘cord-nevers’ it’s still going to be a pay-TV dominated universe for a long time,” said Brahm Eiley, president of Convergence Consulting.