The number of American pay TV subscribers cutting the cord to focus solely on Netflix, over the air, online, and other sources is growing faster than expected, according to the latest study from Convergence Consulting Group. Last year, the researchers predicted that 930,000 pay TV subscribers would cut the cord, but this year estimate that 1.08 million went ahead and did so. That represents 1.1% of pay TV subscribers, and means that between 2008 and 2012, 3.74 million (3.7%) of US TV subscribers cut their subscriptions.
The number of estimated cord cutters last year (1.08 million) not only exceeded the forecast of 0.93 million, but also the estimated number from 2011 (1.05 million). This year, Convergence forecasts another 0.96 million homes will cut the cord, which is a step up from last year’s forecast of 0.93 million. All told, the researcher predicts that by the end of this year, 4.7 million pay TV homes will have cut their subscriptions since 2008, or 4.7% of pay TV homes.
The estimates are based off Convergence’s proprietary cord cutting model, which takes into account economic conditions, annual subscriber additions, and digital transition.
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