Cable TV providers lost a total of almost six million subscribers in 2022.
The report predicts that by the end of 2023, the number of U.S. households that subscribe to traditional pay-TV services will drop to 72.7 million, down from 77.6 million in 2021.
The report also predicts that the number of cord-cutters, or households that have canceled their traditional pay-TV service, reached 50.2 million by the end of 2022.
Examples of cable TV providers that experienced huge losses include the following:
- Comcast: -2,000,000 subscribers
- DirecTV: -1,500,000 subscribers
- Charter: -686,000 subscribers
- Cox: -340,000 subscribers
This trend is largely driven by the increasing popularity of live TV services, streaming websites, and free streaming applications which offer a wider range of content and greater flexibility in terms of when and where users can watch.
According to eMarketer, the number of U.S. households that subscribe to at least one streaming service is expected to reach 200 million by the end of 2022, up from 169 million in 2021.
This shift away from traditional pay-TV services is also reflected in the declining revenues of cable companies.
The report predicts that the U.S. cable TV industry will see a 9.2% decline in revenues in 2022, with losses totaling $15.96 billion.
Despite these challenges, some cable companies are adapting by offering their own streaming services or partnering with existing streaming services.
For example, Comcast’s Peacock streaming service and AT&T’s HBO Max have gained significant traction in the market.
Comcast CFO Jason Armstrong stated the following to investors at a conference on February 27:
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“It’s a costly pivot, and we’re right in the middle right now.”
Disney CEO Bob Iger also noted the following during the company’s 2023 Q1 earnings call:
“The streaming business, which I believe is the future and has been growing, is not delivering the kind of profitability or bottom-line results that the linear business delivered for us over all over a few decades. And so we’re in a very interesting transition period, but one I think is inevitably heading towards streaming.”
Overall, the cable TV industry will continue to face significant challenges in the coming year as streaming services become increasingly dominant.
You can refer to the official report below for more information.
Refer to the video below for more information on transitioning from cable to cord-cutting.
Legal IPTV Options
It’s impossible for IPTV Wire to determine whether unverified IPTV services, apps, or add-ons hold the proper licensing.
If and when an IPTV service is deemed illegal, we notify our users immediately and update reports on our website.
In conclusion, the end-user is responsible for all content accessed through free IPTV apps and paid services.
See our detailed guide below for more information on the legality of IPTV and everything you need to know before streaming.
For 100% verified and legal IPTV providers, see the options listed below:
fuboTV is one of the most popular paid legal IPTV providers among cord-cutters around the globe, especially sports fanatics.
The best part is fuboTV offers a 7-Day Free Trial for new users! This means you can try the service hassle-free.
This IPTV service offers three different plans with the most popular for $69.99/month for over 115 channels and DVR.
Philo is a solid option for those who enjoy entertainment and news channels. This service costs $20.00/month for over 60 channels and unlimited DVR.
Just like fuboTV, Philo also offers a 7-Day Free Trial for new users! This is a must-have feature when choosing any IPTV provider.
Pluto TV is another popular free and legal IPTV application used by millions of cord-cutters.
This free IPTV provider offers hundreds of live channels along with thousands of movies and TV shows.
Check out our Pluto TV guide below for more information.