Prediction: The Cable Industry Will Lose Another 5 Million Customers in 2022 ... Sort Of
The cord-cutting movement is as strong as it ever was. During the third quarter, another 650,000 U.S. households canceled their cable television service, according to data from Leichtman Research Group. That brings the year-to-date attrition tally to a little more than 3.7 million. The remaining cable companies, including Comcast (NASDAQ: CMCSA) and Charter Communications (NASDAQ: CHTR), now serve an estimated 77 million paying customers, all told.
Given the trajectory of the industry's slow-and-steady implosion, there's no reason to think the downtrend will start to level off any time soon. However, there was one surprising bright spot buried in that data that all investors should be aware of.
Image source: Getty Images.
Source Fool.com
