According to Leichtman Research estimates from the first quarter of 2017, there are more Netflix subscribers in the U.S. (50.85 million) than there are customers for major cable TV networks (48.61 million). While it doesn’t mean Netflix is bigger than TV because it doesn’t account for the 33.19 million satellite viewers, it represents a huge milestone for a streaming service that had half as many users just 5 years ago. Engadget reports: The shift in power comes in part through Netflix’s ever-greater reliance on originals. There’s enough high-quality material that it can compete with more established networks. However, it’s also getting a boost from the decline of conventional TV. Those traditional sources lost 760,000 subscribers in the first quarter of the year versus 120,000 a year earlier. Leichtman believes a combination of cord cutters and reduced marketing toward cost-conscious viewers is to blame. Cable giants might not be in dire straits, but they’re clearly focusing on their most lucrative customers as others jump ship for the internet.
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