The Associated Press asks whether Internet TV services such as Hulu and Netflix are finally convincing people to cancel their cable-television subscriptions, as cable operators have been losing TV customers at an even faster rate.
Third-quarter results from top cable-TV companies show big losses, with Time Warner Cable losing 155,000 video customers in the July to September quarter, up from a loss of 64,000 a year earlier. Comcast said its subscriber loss more than doubled to 275,000 in the third quarter. When looking at seven of the top nine U.S. pay-TV companies, they reported a gain of 95,700 video subscribers, compared with a gain of 405,800 subscribers a year earlier, the story says.
If customers are indeed cutting the cord in favor of Internet services, the trend could have wide implications for the pay-TV industry, the article points out. "The move could have the same disruptive effect on the TV and movie industries as digital downloads have already had on music," the story says.