This week, the two major cable TV companies released earnings, providing insight into how quickly cord cutting is spreading. Comcast and Spectrum have each lost over 2.4 million cable TV businesses in 2023, according to the latest recent figures.

If this trend continues, the two major cable TV operators may lose more than 3 million cable TV users by the end of 2023. With major TV providers, like DISH, yet to announce third-quarter 2023 profits, the number of new cord cutters could rise.

According to Leichtman Research Group, all major pay-TV providers will lose around 5.9 million members by 2022. With Comcast and Spectrum potentially losing 3 million customers each, that figure might rise in 2023.

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Comcast announced 490,000 video customer losses in its third-quarter financial report, which was released this morning. That equates to about 5,300 subscribers every day. For the quarter, the company lost 18,000 broadband customers. Comcast now has 32 million broadband customers in total. Domestic broadband revenue increased 3.8% to $6.4 billion in the third quarter.

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Spectrum lost 320,000 TV customers in the third quarter of 2023. Spectrum also reported a loss of over 288,000 voice customers as more Americans abandoned traditional phone lines and television subscriptions. During that time, Spectrum added 63,000 internet customers, both residential and business. This is Spectrum’s largest-ever decrease in TV customers in a single quarter.

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Cable companies are still trying hard to retain as many cable subscribers as possible. The question now is whether they will be successful.


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