It looks like 2024 might be a turning point for cable TV companies.
Just in 2023, almost five cable TV companies either closed their traditional TV services or shifted to streaming.
These companies are:
- Mid-Rivers Communications
- Frontier (which replaced cable TV with YouTube TV)
- Sparklight cable TV/Cable One
Mid-Rivers Communications was among the first to shut down its cable TV operations, ending them on December 31, 2023.
They did this because only 10% of their customers still paid for TV, and it wasn’t sustainable.
Now, they’ve partnered with DIRECTV and offer DIRECTV services via satellite or the internet, as well as DIRECTV STREAM.
This trend of transitioning to streaming is mainly gaining momentum due to the growing number of cord-cutters.
For example, Sparklight Cable is discontinuing its traditional cable TV and introducing Sparklight TV to its customers, a streaming service that requires a device like Apple TV or Fire Stick.
WOW! also joined the trend by partnering with YouTube TV and ceased accepting new TV customers in the summer of 2023.
They plan to migrate their existing TV customers to YouTube TV and offer it to new customers as well.
Spectrum is not left out either.
They are moving away from traditional cable TV and offering new customers the “Xumo Stream Box” for a modern and integrated entertainment experience.
“Traditional cable boxes will still be available for those who prefer them.”
So, what’s the future prediction?
It’s likely that more than 50% of the remaining cable TV companies will announce ‘the end of traditional cable TV’ by the end of next year.
However, instead of shutting down completely, they might adopt a system similar to Comcast/Charter’s Xumo box.
They will continue offering the same TV channels but will deliver them over the internet.
This could be their way of adapting to the changing preferences of customers who prefer internet-based options over traditional cable TV.