Cord cutting increasing faster than expected

Cable Cord

Cord cutting and shredding is accelerating faster than expected.

The latest estimates from Pivotal Research Group’s Brian Wieser, reported by MediaPost, show a 3.2 percent year-over-year decline in cable TV homes and a 2.2 percent in median decline in all pay TV homes.

Nielsen total TV homes are about 116 million.

MediaPost’s report focuses on the decline experienced by cable networks, including Disney, which saw a 4.1 percent media household decline.

For those who follow the cord-cutting phenomenon, this isn’t entirely surprising.

One in five households have either cut the cord and canceled their pay TV subscription or never ordered service in the first place.

“We think the jump from 2014 to 2015 in terms of TV subscriber losses and (the industry) losing 1.1 million subscribers per annum going forward being the new normal is a big deal,” Convergence’s Brahm Eiley told DSL Reports. “Linear TV still has feet left in it but the chipping away process has begun.”

Last month, SNL Kagan released data showing that 1 million pay TV subscribers canceled their service in 2015, marking the third straight decline for the pay TV industry.