Have you cut the cord on your cable TV service? I've heard more than a few tech-savvy folks talk about ditching traditional television services in favor of streaming video and other media. Now, Business Insider has compiled some interesting numbers that suggest a lot of people are dropping cable TV in favor of broadband-only connections.
Time Warner reportedly lost 306,000 TV subscribers in the third quarter alone. The article notes that providers routinely lose and gain subscribers on a seasonal basis, but TV subscriptions have clearly been trending down since 2010. Apart from a brief uptick during the last summer Olympics, TV ratings have been slumping since 2011. Ratings are even down for big sporting events like the World Series and the NBA finals.
According to Business Insider, less than half of the customers of big broadband providers now have cable TV as part of their service package. And, surprisingly, the number of broadband subscriptions is falling overall. It seems that younger consumers are increasingly relying on mobile connectivity. Media consumption on mobile devices is way up in the past few years, too.
Despite the downturn, the article points out that cable providers are enjoying revenue growth due in part to higher subscriber fees. Rising fees may ultimately drive more customers away, hastening cable TV's decline.