While most people today have televisions in their homes, they’re no longer primarily for cable TV. Netflix, the company we all know and love, has finally surpassed cable television. According to the Leichtman Research, cable companies in the US boast about 48.6 million subscribers, compared to Netflix’s 50.85 million.
That is right, Netflix is bigger than cable.
Though these numbers don’t take into account minor cable networks, this is the first time major pay TV subscriptions has seen a first-quarter net loss.
As cable’s growth slows down, the industry is making room for streaming paid services such as Netflix, Hulu and Crackle — companies that don’t even broadcast live content. Now that Netflix has officially beaten cable by 2 million subscriptions, it will be interesting to see its growth over the next few years.
Since 2012, Netflix has jumped from 23 million subscribers to over 50 million. In the past 5 years alone, the services has doubled its subscriber base. What’s even more telling is that cable has been on the decline since 2012, losing 4 million subscribers.
While the loss may not seem like a massive detriment to its current 48 million subscriber base, it does show that cable isn’t what everyone wants right now. Netflix offers high quality, original and on-demand series that cable or satellite can’t quite match, not to mention its personalization and ease of use.
Do you think Netflix will soon hit a wall and just keep a steady subscriber base? Or do you think the service will continue to grow and grow and be one of the most recognizable companies in the world? Let us know in the comments below.