Complete Story
09/29/2016
Cable TV companies could lose nearly $1 billion in the next year from people ditching their subscriptions
Cable TV companies could lose nearly $1 billion to people cutting the cord over the next year, according to a new study by management consulting firm cg42.
The firm estimates that 800,000 cable customers will ditch their subscriptions in the next 12 months. Cg42 expects each customer to be an average loss of $1,248 annually, and losses to approach $1 billion over the year.
Cg42 also found that the average cord-cutter saves $104 per month by canceling. Some in the industry have argued that cutting the cord doesn't actually save you money if you subscribe to a bunch of streaming services like Netflix, HBO, and so on. But that point of view neglects the reality that many cable subscribers pay for those streaming services already.
