2023 has not been kind to cable TV companies like Comcast, DIRECTV, and Spectrum. In just the first half of 2023, cable TV companies have lost over 2,748,000 TV subscribers. Not only that but the hope that most cord cutters would switch to live TV streaming services doesn’t seem to be paying out as live TV services like Hulu + Live TV and Fubo also lost 509,000 subscribers during the same time period.
In the 1st quarter of 2023, cable TV companies lost 1,135,143 subscribers. In the 2nd quarter of 2023, cable TV companies lost 1,613,532. In the 1st quarter of 2023, streaming live TV services lost 394,000, and in the 2nd quarter, they lost 115,000 all according to The Leitchman Research Group, which includes estimates on DIRECTV and YouTube TV.
So far, Comcast has been hit the hardest and has seen its TV subscriber numbers drop by over 1.15 million in the first half of 2023. This comes as Comcast lost 614,000 subscribers in the 1st quarter of 2023 and 543,000 subscribers in the 2nd quarter of 2023. Traditionally 1st, quarter numbers are often larger than send quarter as Americans look to save money with the new year.
DIRECTV has, according to The Leitchman Group lost over 750,000. Sadly DIRECTV no longer publicly reports their numbers so we have to rely on respected research groups like The Leitchman Research Group.
Lastly, the last big loser was Spectrum though of the big three providers, it did the best, losing just 441,000 subscribers in the first half of 2023. Still, though a very hard hit as cord cutting grows in 2023.
All together, cable TV companies are losing about 15,000 subscribers every single day in 2023. If this trend continues, cable TV companies will lose over 4 million subscribers in 2023.
As inflation grows and Americans struggle with bills increasingly they seem to be turning to cheaper on-demand options for their TV services.