Cable TV Subscriptions See First Growth in 8 Years, Report Finds
The number of people paying to watch cable channels has grown for the first time in eight years, according to a recent report from research analyst MoffettNathanson. In Q3 2025, pay TV operators added 303,000 new subscribers, marking a significant turnaround from the industry's decline.
The growth is attributed to several factors, including the addition of YouTube TV subscribers and traditional pay TV companies offering bundles with streaming services. YouTube TV, the largest virtual multichannel video programming distributor (vMVPD) by subscriber count, claimed 8 million subscribers in February 2024 but may have reached 9.4 million recently.
According to MoffettNathanson's report, Charter Communications saw significant growth due to its bundles with streaming services like Disney+, Hulu, and HBO Max, while Comcast also reported its best pay TV subscriber count in almost five years after launching a streaming bundle with Netflix, Peacock, and Apple TV.
However, the overall trend for the pay TV industry remains negative. Pay TV's subscriber count declined by 10.2 percent compared to the same quarter last year, although the decline slowed down from 12.4 percent in Q3 2023 to 10.2 percent in Q3 2024. The industry still faces significant challenges, including a shift towards streaming services and declining cable viewing hours.
MoffettNathanson notes that while the recent growth is encouraging, the industry needs more sustained momentum to see long-term growth. Despite this, the report suggests that the positive result could be a sign of better times ahead for pay TV operators.
The number of people paying to watch cable channels has grown for the first time in eight years, according to a recent report from research analyst MoffettNathanson. In Q3 2025, pay TV operators added 303,000 new subscribers, marking a significant turnaround from the industry's decline.
The growth is attributed to several factors, including the addition of YouTube TV subscribers and traditional pay TV companies offering bundles with streaming services. YouTube TV, the largest virtual multichannel video programming distributor (vMVPD) by subscriber count, claimed 8 million subscribers in February 2024 but may have reached 9.4 million recently.
According to MoffettNathanson's report, Charter Communications saw significant growth due to its bundles with streaming services like Disney+, Hulu, and HBO Max, while Comcast also reported its best pay TV subscriber count in almost five years after launching a streaming bundle with Netflix, Peacock, and Apple TV.
However, the overall trend for the pay TV industry remains negative. Pay TV's subscriber count declined by 10.2 percent compared to the same quarter last year, although the decline slowed down from 12.4 percent in Q3 2023 to 10.2 percent in Q3 2024. The industry still faces significant challenges, including a shift towards streaming services and declining cable viewing hours.
MoffettNathanson notes that while the recent growth is encouraging, the industry needs more sustained momentum to see long-term growth. Despite this, the report suggests that the positive result could be a sign of better times ahead for pay TV operators.