Is YouTube taking market share from cable companies? Here's what the latest data reveals

A story of consumers cutting the cord and choosing to get rid of cable TV may be further substantiated in a new YouTube report. The report shows that not only are cable companies losing subscribers, but virtual multi-channel video providers are taking market share.

What happened: YouTube TV, a unit of Alphabet Inc. GOOGGOOGL, released public subscriber count data for several major cable companies and its peers in the segment virtual multi-channel video providers.

The report, which was shared by The Hollywood Reporter, shows that cable and satellite companies still have the bulk of subscribers, but their market share is declining.

YouTube TV and Hulu Live TV, owned by The Walt Disney Company DIS and Comcast Corp CMCSA, are gaining subscribers and holding around 20% market share.

Here are the latest subscriber numbers for live TV providers:

Comcast: 17.6 million subscribers

Charter, a unit of Charter Communications CHTR: 15.7 million subscribers

DirecTV, a unit of AT&T Inc T: 14.3 million subscribers

Dish Network DISH: 8 million subscribers

YouTube TV: 5 million subscribers

Hulu Live TV: 4.1 million subscribers

Verizon VZ: 3.6 million subscribers

SlingTV, a unit of DISH: 2.25 million subscribers

FuboTV Inc FUBO: 1 million subscribers

Related link: Comcast, Chartered Joint Venture Streaming Platform: What Investors Need to Know

Why it matters: YouTube TV hit 5 million subscribers five years after launch and added 2 million subscribers since late 2020, when the company shared for the last time subscriber numbers.

Hulu Live TV saw subscriber growth of 8% year over year in the last quarter.

Pay-TV providers lost 1.95 million subscribers in the first quarter, according to a recent study.

YouTube TV and Hulu Live TV are priced at $64.99 and $69.99 respectively, in line with similar offerings from FuboTV and DirecTV at $69.99 each.

Virtual multi-channel video providers offer additional features such as cloud DVR and overlay features that may benefit subscribers.

With cord-cut issues, traditional cable and satellite providers must now consider competition from companies such as YouTube and Hulu.

More consolidation could take place in the cable and satellite market in an effort to gain market share and keep prices the same without a battle to drive down prices for subscribers.

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