1 Million Pay-TV Cord Cutters In 2011

Estimated 1 Million Pay-TV Users Cut Cord for Web in 2011 - Bloomberg

More than 1 million U.S. pay- television customers dropped subscriptions in 2011, prompted by a flood of films and TV shows available online at services like Netflix Inc. (NFLX), according to a research report.

About 2.65 million subscribers to traditional cable or satellite TV service have canceled since 2008 to rely solely on Web-based choices, according to the estimate yesterday from Toronto-based Convergence Consulting Group Ltd. The dropouts include an estimated 1.05 million in 2011.