Netflix surpasses cable customer base for first time: Report

Netflix’s domestic subscriber base has surpassed the total number of U.S. cable TV subscribers, a new survey finds.

Leichtman Research found that the video-streaming service now has 50.85 million subscribers, while there are just 48.61 million customers reported by the top cable providers in the country, Forbes reported Tuesday.

Netflix’s user base also eclipses that of satellite TV’s 38 million subscribers, Forbes noted.

All told, the paid-TV model is far from dead, although it has slowly been losing customers in recent years as more Americans cut the cord and as streaming TV platforms grow more plentiful and diversify their content offerings. In December, a survey by PricewaterhouseCoopers found that the rate by which U.S. cable customers were cutting the cord was actually slowing down.