Study: 1 million dumped cable last year for Netflix, Hulu
Tempted to cut the cord? You’re not alone: Even with overall TV viewership on the rise, about 1 million cable or satellite subscribers dumped their service last year.
According to research by the Convergence Consulting Group, about 2.7 million U.S. TV subscribers unsubscribed from their traditional service to rely solely on over-the-air signals, Netflix, Hulu, iTunes and other online outlets over the past three years. About 1 million of those viewers cut the cord in 2011. The research forecasts another 900,000 will defect this year.
Furthermore, about 19 percent of viewers watch one or two episodes of TV online each week (either via a network’s own Web site, or another distribution outlet).
Thing is, the number of viewers ditching cable and satellite is still not very high compared to the number who are sticking with the traditional services. About 100 million currently subscribe to a cable or satellite service, and that number is expected to rise, albeit very slightly, this year.