People are pulling the plug on cable television by the hundreds of thousands

People are pulling the plug on cable television by the hundreds of thousands.

Comcast’s Q2 2012 earnings show the cable company is relying heavily on its high-speed Internet service subscribers.

Though the cable giant reports a total Q2 increase in customers of 138,000; the cable company also lost a massive 395,000 television subscribers in the last year.

This number is huge, considering Credit Suisse analyst Stefan Anninger previously predicted 200,000 fewer subscribers would pay for television services this year.

 

Source: Business Insider

Specific numbers:

In Q2 2012:

• Lost 176,000 cable subscribers.
• Gained 156,000 broadband.

• Lost 238,000 cable.
• Gained 144,000 broadband.

“While Comcast continued to rack up new broadband subscribers, it is still losing basic video subscribers quite fast — both to cord cutters and satellite/phone company rivals.” – GigaOm