Cable majors in Canada are taking some serious hits after VOD service Netflix arrived. Collectively Netflix and other video streaming services have enhanced the rate of cord cutting rapidly this year.
The Calgary-based cable network Shaw Communications recently unveiled its 2015 financial year end results. It reported losing 76,035 subscribers during Q4 which is way higher compared to to13,675 subscribers it lost out on during the Q4 of 2014.
This year till now, Shaw has lost 193,740 subscribers, against a a loss of 50,291 customers last year, out of its total cable subscriber base at around 2.85 million.
Rogers Communications, the other major cable player also reported Q3 results on Thursday. Rogers shed another 31,000 cable TV subscribers, marginally higher than the 30,000 customers it lost during the Q3 of 2014.
This excessive shedding has led to Rogers and Shaw team up to launch Shomi aiming to compete with Netflix in Canada.