A growing number of American TV viewers are becoming less reliant on their cable or satellite TV service as online streaming services and Netflix continue to chip away at viewership.
“We are starting to see the beginning of cord cutting,” Time Warner Cable CEO Glenn Britt said during a quarterly earnings discussion. “People will choose not to buy subscription video if they can get the same stuff for free.”
Time Warner has lost 119,000 basic video subscribers during its fiscal fourth quarter, though it’s not entirely as bad as it sounds. Sure, the number is high, but the cable business isn’t going to suddenly fold overnight.
IMO not a huge surprise, but should be interesting to see where this goes in the future…