Media Companies Panic as Customers Ditch Cable TV

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This is a no brainer. Personally, we canceled our Comcast cable a few months ago, and now only pay for wifi and use Apple TV to watch movies, shows, etc. Apparently, we’re not the only ones.

From Bloomberg:

Cord-cutting is gaining steam.

Pay-TV services recorded their biggest-ever quarterly drop in subscribers, losing 625,000 TV customers, according to a report Thursday from the research firm SNL Kagan.

While about 100.4 million households still pay for traditional pay TV, the report underscored investors’ fears that cord-cutting is gaining momentum and starting to fray the TV industry’s business model.

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