According to a new report by The Convergence Consulting Group, over the past two years 800,000 households in the US have abandoned their cable subscriptions. The trend is accelerating as 600,000 of those cancellations were in 2009.
Like the problem record companies have with full length albums, consumers are tired of bundled packaging with tons of hot dog filler. With the endless quantity of content options, we have time for only our favorite songs, TV shows, movies, video games, articles on the web, etc. Apparently, cable providers such as Comcast (NASDAQ:CMCSA), Time Warner (NYSE:TWX), DirecTV (NASDAQ:DTV), and Dish (NASDAQ:DISH) are moving too slowly for more active media consumers.
Although the current numbers are still a very small percentage of the estimated 101 million cable subscribers nationwide, the number of cable cancellations is estimated to increase to 1.6 million by the end of 2011. Given how many new online TV options pop up on a weekly basis (including those for mobile), I think we are witnessing another incredible trend in what’s still the Genesis chapter of the Information Age.