NEW YORK (TheStreet) -- For the first time, Internet service subscribers now outnumber TV service subscribers at the country's top cable companies, according to a newly published survey.
Leichtman Research Group reports the country's largest cable and telephone providers, which represent more than 90% of the total market, added nearly 385,000 net additional high-speed Internet subscribers in the second quarter of 2014. When combined, (50.7 million subscribers from cable companies and 35.2 from telephone companies), nearly 86 million people connect to the Internet though these top 17 providers.
Bruce Leichtman, the research company's president and principal analyst, notes that cable companies are expanding their services to better compete in this market. "With the addition of more than 30 million broadband subscribers over the past decade, cable providers have clearly expanded well beyond their roots in cable TV service," Leichtman said in a release. "As of the end of 2Q 2014, the top cable providers now have more broadband subscribers than cable TV subscribers."
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At the top of the list of cable companies is Comcast (CMCSA) which added more than 200,000 new Internet customers in the second quarter followed by Time Warner (TWC) (86,000 additional customers) and Charter Communications (CHTR) adding 62,000. Placing fourth, Cablevision (CVC) actually registered a net loss of 9,000 customers in the quarter.