News

Rising Number of Canadians Cutting the Cable Cord

TORONTO — A new report says the number of Canadians cutting the cord on their TV services is expected to increase this year.

The Convergence Research Group estimates in a report released Wednesday that TV subscriptions in Canada will drop by 247,000 this year, up from 220,000 subscriber losses last year.

That would represent an annual drop of two per cent, and the consulting firm says that decline is expected to grow by three per cent in 2019.

The report estimates 3.8 million households or 26 per cent did not have traditional TV services at home last year and projects that will rise to 4.18 million or 28.4 per cent this year.

Canada’s major telecommunications providers have been racing to add next−generation TV services such as streaming to their offerings in a bid to retain and add new TV customers.

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The Canadian Press, 2017