Cord Cutting is growing faster than ever but many cord cutters are moving away from live TV service. In the first quarter of 2024 alone, over 1.2 million people canceled Comcast, Spectrum, and DISH. Now YouTube TV, one of the live TV streaming services that had seen subscriber growth, has reportedly lost 150,000 subscribers in the 1st quarter of 2024, according to a report from Craig Moffett.
This comes as increasingly cord cutters are looking to on-demand streaming services first and live TV second. YouTube TV faced that trend and the end of the 2023 NFL season likey driving the drop in subscribers as many cord cutters will wait until the 2024 NFL season this fall to subscribe again.
This drops comes as cable TV continues to lose subscribers. Comcast, Spectrum, and DISH lost over 13,700 TV customers every day in the first quarter of 2024. If this trend continues over 5 million TV customers will cancel TV from DISH, Comcast, and Spectrum. That would be up from the 3.260 million the three companies lost in 2023.
Here is how the 1st quarter 2024 numbers break out.
Comcast Losses:
In Comcast’s 1st quarter earnings report released this morning, the company reported it lost 487,000 cable TV customer losses. That works out to over 5,300 Subscribers Every Day. The company lost 65,000 broadband customers for the quarter, a jump over the 34,000 it lost in the 4th quarter of 2023.
If this trend continues, Comcast will lose over 1.975 million TV customers in 2024.
Spectrum Losses:
Charter Communications, the parent company of Spectrum, reported it lost 405,000 TV customers in the first quarter of 2024. This is on top of the 320,000 TV customers it lost in the fourth quarter of 2023. Spectrum, for the second quarter in a row, lost 72,000 Internet customers.
If this trend continues, Spectrum will lose over 1.642 million TV customers in 2024.
DISH Losses:
DISH lost a total of 348,000 TV subscribers in 1st quarter, leaving it with 8.178 million TV subscribers. Sling TV, DISH’s streaming service, lost roughly 135,000 subscribers. DISH TV also lost 213,000 subscribers. This is an improvement from the same period last year when the company lost 552,000 TV customers.
If this trend continues, DISH will lose over 1.411 million TV customers in 2024.
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