This week we learned about two cable TV companies shutting down their TV service. They join a growing list of companies that have said TV is just not profitable and not worth their time. Instead, they are outsourcing TV or just altogether not bothering with it and shutting down the service.
CenturyLink, one of the largest Fiber providers in the United States, has for some time now not offered TV. WOW!, Sparklight Cable and Frontier have all recently shut down their traditional TV services and offered a streaming-only package.
Other cable TV companies have said they are looking at their options when it comes to if they continue to offer cable TV. Atlice USA, the parent company behind Optimum cable TV, recently said they are looking at options for new markets to outsource their TV service also.
Currently, of the top 15 TV companies in the United States, two of them have already shut down their TV services or are no longer selling it to new customers. Optimum, the 4th largest cable TV company (not counting satellite, streaming, and fiber options) has said they are considering their options.
This comes as cable TV companies lost a record number of subscribers in the 1st quarter of 2023. In the first three months of 2023, Comcast, Dish, and Spectrum lost 930,241 subscribers. That works out to be over 10,000 canceled subscribers every day for these three companies. Here’s a rundown of each network’s subscriber losses in Q1 (91 days) compared to the final quarter of 2022.
In total, all cable TV and live TV providers lost 2.31 million subscribers in the first three months of 2023. That works out to over 25,600 Americans cutting the cord every day. If this trend continues, cable TV providers could lose 9.3 million subscribers in 2023. This comes from a report made by MoffettNathanson that tracks cable TV and streaming services.
This raises the real question of how much longer will cable TV even be around. It’s increasingly possible that cable TV could lose 10 million subscribers this year if cable TV speeds up even slightly. 2023 is increasingly looking like a turning point in how Americans watch cable TV.