More and more Canadians are moving away from traditional cable TV subscriptions, according to a new report.

Rogers and Shaw both released their quarterly earnings reports last week, and the news is pretty grim: between the two of them, they’ve shed almost 200,000 cable subscribers in the past year.

Rogers lost some 111,000 TV customers, equal to about 5 per cent of their TV subscription base.

Shaw isn’t doing much better. They lost 82,000 cable and 6,600 satellite subscribers over the same period.

According to the Huffington Post , these stats, if typical, would indicate that nearly one in 20 Canadian households have gotten rid of their cable TV subscriptions in the past year.

While both companies were able to offset their losses with a rise in internet subscribers (51,000 for Rogers and 71,000 for Shaw), they seem to see the writing on the wall: The two unlikely collaborators announced in August that they would be joining forces to launch ‘shomi’ , a new video-on-demand streaming service set to go head-to-head with Netflix. At $8.99 per month, even the pricing is the same.

Shomi is set to launch a beta version of its service for Rogers and Shaw customers in November, with Canada-wide service to follow.

Have you ditched your cable TV subscription in favour of online streaming? Will you subscribe to shomi when it makes it public debut? Discuss in our Television Industry forums.

 

Source: Huffington Post