Source: RawStory
WASHINGTON — The economic downturn has US cable television companies shedding subscribers in record numbers and Americans increasingly "cutting the cord" in favor of cheaper online options, new research shows.
The findings point to a growing pool of potential customers for online services such as Hulu and Netflix and newcomers like Apple TV and Google TV, which offer lower prices and more flexibility, analysts say.
According to research firm SNL Kagan, US cable operators lost 741,000 basic video customers in the third quarter of the year, the biggest decline since it started tracking the segment in 1980.
Comcast, the largest US cable operator, lost 275,000 video subscribers during the third quarter while Time Warner Cable, the second-largest, shed 155,000 video customers in the July-September period.
The pay television sector -- which includes satellite television and TV services offered by telecom firms in addition to cable -- lost 119,000 customers in the quarter after gaining 346,000 a year ago, SNL Kagan said.
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