Online streaming subscriptions have been slowly rising, while HBO and premium networks have lost some of their subscriber base over the past year.
NPD Group has released its “State of SVOD” where it says that HBO has dropped 6 percent of its subscriber base in the U.S., as Netflix made modest 4 percent gains, reports the Los Angeles Times.
“It’s fair to say … that some of the shift that you’re seeing is probably caused by Netflix,” NPD Group senior VP Russ Crupnick said. He does admit though that “Some of this could be caused by the economy. It could be people looking at their cable bills and saying, ‘I can’t afford this.'”
Netflix and other digital streaming services now have subscriptions in about 27 percent of households, which is quickly gaining on premium cable channel subscriptions, which sit at about a third of U.S. households.
According to The Hollywood Reporter, Netflix currently has almost 30 million subscribers in the U.S, which surpassed that of HBO. HBO still holds a higher overall customer base as it operates worldwide, while Neftlix is somewhat limited at the moment.