Viewers are leaving cable and satellite in droves. Hundreds of thousands of viewers are doing what our household has done and dumping their monthly cable or satellite service, likely in favor of streaming video.
That’s the word from the Associated Press, which examined cable and satellite companies’ quarterly returns and concluded they lost a total of about 195,000 subscribers in the second quarter of 2011. But wait! It’s even worse than it looks, because the AP’s study included Verizon and AT&T which may be losing TV subscribers but gaining mobile phone subscribers. GigaOm’s Ryan Lawler points out that these two companies’ offset the total loss with combined subscriber gains of about 384,000 subscribers.
In other words, traditional pay TV lost more than half a million subscribers in the last three months.