For the first time in recent memory the top cable TV companies lost Internet customers in 2023. According to a report from Leichtman Research Group, the top cable TV companies, like Comcast, lost 65,000 customers in 2023. This is down from them adding 530,000 subscribers in 2023.
According to the report, Atlice lost the most Internet subscribers at 114,100 subscribers, followed by Comcast at 66,000 subscribers. The only cable TV company in the report to add subscribers was Spectrum with 155,000 subscribers added. But Spectrum also recently saw Internet subscriber numbers decline as it lost subscribers in the fourth quarter 2023.
Major phone companies like AT&T also lost over 80,000 Internet subscribers in 2023. Most of that loss came from AT&T losing 98,000 and Lumen losing 279,000 subscribers. These losses where offset by other companies adding subscribers.
New options like 5G Home Internet and SpaceX’s Starlink cut into traditional Internet providers customers.
To fight back, we have seen Internet providers push their faster speeds over new options. Recently Comcast announced it would be offering free speed upgrades to millions of customers.
The cord cutting 2.0 movement—where cord cutters strive to not only cancel cable TV but also to cancel cable Internet—is gaining momentum. Now the question is how fast will cord cutting 2.0 grow and how far will it go.
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