We are finally getting a more accurate idea of just how hard cord cutting hit cable TV in 2023. Multiple cable TV companies announced that they would shutdown TV service. And, we are still waiting on many cable TV companies to report numbers, but the two largest cable TV companies lost over 3 million customers.
Spectrum lost more than 1,018,000 million TV customers in 2023. That is almost 2,800 customers canceling cable TV every single day. This includes 241,000 lost in the 1st quarter, 200,000 lost in the 2nd quarter, 300,000 lost in the 3rd quarter, and 257,000 lost in the 4th quarter to end the year.
Comcast lost 2,036,000 cable TV customers in 2023. The company also lost 38,676 Internet subscribers in the same year. Comcast started 2023 adding more than 32,000 new Internet subscribers but lost subscribers the remaining three quarters. On average, Comcast lost more than 5,500 TV customers every single day in 2023.
These numbers are similar to the over 2 million TV customers Comcast lost in 2022 and up from the 1.66 million Comcast lost in 2021.
Together the two companies lost more than 8,000 TV customers every single day in 2023 with other big names like DISH still to report. It is likely that the number of TV customers lost will skyrocket in the weeks to come as more cable TV companies report numbers.
Even more scary for cable TV companies is the loss of Internet customers in 2023. For the first time in recent memory both Comcast and Spectrum lost Internet customers in the 4th quarter of 2023 as both companies deal with Cord Cutting 2.0. Increasingly many Americans are ditching cable Internet for less expensive options like 5G home Internet.