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Cable television’s heyday is over. Subscribers have been declining since 2004, and analysts say there’s no end in sight. Roughly 54.8 million households currently pay for cable TV, down 3.3% from 2012 and down 17.6% from a decade prior, according to research firm IHS. Cable companies are expected to shed roughly 1.3 million subscribers in 2014.
The decline is due in part to so-called cord-cutters: consumers who are canceling cable and transitioning to lower-cost services, such as Hulu and Netflix (NFLX) , which provide much of the same programming at a fraction of the price.