Updated on
Summary The weak US economy is hitting the citizens where they spend a lot of their free time at the TV set.
They are canceling or forgoing cable and satellite TV subscriptions in record numbers. The US subscription-TV industry first showed a small net loss of subscribers a year ago. This year, that trickle has turned into a stream. The chief cause appears to be persistently high unemployment and a housing market that has many people living with their parents, reducing the need for a separate cable bill.But its also possible that people are canceling cable, or never signing up in the first place, because theyre watching cheap Internet video.
