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Netflix, the king of video streaming services, has surpassed cable TV subscribers in the US, registering over 50 million users in the first quarter of 2017, according to a report by Statista and Leichtman Research Group. Top cable TV providers had a combined subscriber base of 48.6 million in Q1 2017. This is the first time that the industry has had net subscriber losses in the first quarter of a year.
This comes a few months after Netflix chief Reed Hastings announced that the internet TV giant was nearing 100 million subscribers globally. “While cable only represents around 50 percent of the US pay-TV market as a whole, it is by far the most popular way of getting pay-TV in the country. For Netflix to surpass cable is a big step in becoming the number one source of home entertainment,” stated Felix Richter, Data Journalist, Statista.
Netflix competitor Hulu is growing as well, with over 12 million paid subscribers now. If we add that to Netflix’s 50.9 million, the increasing dominance of internet TV over traditional cable TV is clear. The sharp growth of on-demand video services this quarter is led by their aggressive pricing. Netflix and other subscription-video-on-demand platforms are reportedly much cheaper than cable TV. Interestingly, Netflix grew its base by expanding the market as opposed to snatching share from cable TV operators.
Source BGR
This comes a few months after Netflix chief Reed Hastings announced that the internet TV giant was nearing 100 million subscribers globally. “While cable only represents around 50 percent of the US pay-TV market as a whole, it is by far the most popular way of getting pay-TV in the country. For Netflix to surpass cable is a big step in becoming the number one source of home entertainment,” stated Felix Richter, Data Journalist, Statista.
Netflix competitor Hulu is growing as well, with over 12 million paid subscribers now. If we add that to Netflix’s 50.9 million, the increasing dominance of internet TV over traditional cable TV is clear. The sharp growth of on-demand video services this quarter is led by their aggressive pricing. Netflix and other subscription-video-on-demand platforms are reportedly much cheaper than cable TV. Interestingly, Netflix grew its base by expanding the market as opposed to snatching share from cable TV operators.
Source BGR
