Business Report: Cable Subscriptions Numbers Down

More consumers are cutting the cord on their cable subscriptions.

The Pay-TV industry lost 1.7 million customers last year as the number of households ‘cutting the cord’ has accelerated.

One of the biggest problems for cable companies is millennials.

While some may be ‘cutting the cord’ to save money, the biggest reason millennials are canceling their cable subscriptions is because there are plenty of other entertainment options from streaming services such as Netflix, Amazon and Hulu.

All three have been stocking up on premium content and winning awards for their original programming.

And Hulu has forged some content deals to provide the unique offer of new television episodes from many major networks.