Yesterday Cable One, which is now known to the public as Sparklight cable TV, reported its 3rd quarter earnings, where it reported that its residential video subscribers dropped to just 140,500 residential customers and 8,400 business customers. This comes as the company earlier this year said it planned to shut down its traditional cable TV service to shift to streaming. This is compared to its 958,000 broadband internet subscribers.
Now Cable One CEO Julie Laulis said her company is preparing to fully shut down its TV service to focus on its broadband service. “We are navigating the final stages of decline in our video product… As we draw down on our remaining video subscribers, we are preparing for an environment without a video business.” Julie Laulis said, according to a report from Ted Hearn.
Cable One is available in 24 states under the Sparklight cable TV brand. This move to ditch cable TV and all video is one more in a growing number of cable TV companies shutting down their service. In total, so far in 2023, 4 other cable TV companies are moving away from traditional cable TV.
This move to streaming only will allow Sparklight to dedicate 100% of its network to internet service. This move should help increase speeds as Sparklight can now dedicate 100% of its network to the internet instead of sharing it with TV.
The question now is not if but when other cable TV companies will follow Sparklight TV’s example and ditch cable TV.