We Now Live In A World Where Netflix Has More Subscribers Than Cable TV
Netflix continues to dominate the television landscape and the #1 streaming service in the world has hit a new remarkable milestone. Thanks to their original television programming and a large library of shows and movies, Netflix has surpassed cable TV in subscribers for the first time ever. New data shows that Netflix, which will celebrate their 20-year anniversary this August 29 and has been streaming media for the past 10 years, is the new king of home entertainment.
According to a study by Leichtman Research of the first quarter of 2017, there are more Netflix subscribers in the U.S. with 50.85 million compared to 48.61 million major cable TV network subscribers. People are definitely cord cutting as 760,000 subscribers ditched cable TV in the first quarter of the year versus 120,000 a year earlier. Meanwhile, Netflix has doubled the number of subscribers in the last five years. Imagine how many subscribers Netflix would have if people didn’t “borrow” the Netflix accounts of friends and family.
You will find more statistics at Statista
Internet-only TV subscriptions, which are relatively new entertainment services, are snatching away viewers from cable TV. The data shows that Sling TV has 1.36 million subscribers, and DirectTV Now has 375,000 members. However, the data lists cable TV broadcast on satellite companies as a different entity which has 33.19 million viewers. But even satellite TV services suffered losses in the first quarter of 2017 about 320,000 subscribers disconnecting. Tere are a total of 93,319,187 subscribers to cable, satellite, and internet streaming services in the United States, which accounts for 95% of pay TV viewers. This can only mean that Netflix rate hikes are not far away.