Yesterday, we compared the top cable, satellite and fiber pay TV providers to see just how big some of them are. They were huge, which is no surprise in an industry that is dominated by regional monopolies. But, somewhat surprisingly, Netflix is bigger than Comcast and the rest of the motley gang of old-school pay TV companies – despite the fact that most cable companies enjoy ridiculous monopolies that should help boost their numbers…
In fact, Netflix is bigger than the top three cable giants (Comcast, Charter, and Cox) combined. That is stunning, since together those companies cover almost the entire United States (remember that Charter now includes Time Warner Cable and Bright House Networks). Here's how Netflix stacks up against its pay TV rivals in terms of subscribers:
- Netflix (OTT): 47,130,000
- AT&T U-Verse and DirecTV (IPTV/satellite): 25,300,000
- Comcast (cable): 22,400,000
- Charter Communications (cable): 17,000,000
- DISH Network (satellite): 13,874,000
- Verizon FiOS (fiber): 4,700,000
That list includes satellite and fiber companies as well as cable companies, but Netflix dominates them all. As we mentioned above, Netflix's subscriber base is larger than the top three cable subscriber bases combined (third-place cable company Cox is pushed off of this list, but has a relatively small base of around 4 million people). AT&T Inc.'s satellite and IPTV offerings combine for a larger subscriber base than any cable company's, but their numbers still pale in comparison to Netflix's. Netflix has 86.3% more subscribers than AT&T.
And for all of this domination, we're not even looking at overseas markets, where the U.S. based cable companies have no additional subscribers to speak of. Netflix has another 36 million customers overseas, and it has continued to grow into new markets!
Speaking of growth, that's another area where the cable companies are lagging sorely behind Netflix. Cable companies routinely report subscriber losses these days, while Netflix is also still growing (even if they did so a little more slowly than they would have liked in Q2 of 2016). Satellite companies, for their part, are more or less stagnant.
Of course, many consumers still have both cable and Netflix, so the subscriber bases above aren't all mutually exclusive groups. But combined with what we know about cord cutting trends, these numbers show that Netflix is dominating individual cable companies and is rapidly leaving its legacy competition in the dust.