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As the following chart illustrates, the U.S. pay-TV landscape is rather fragmented with plenty of choices for customers unwilling to cut the cord. According to data compiled by the , the largest pay-TV providers in the United States, representing approximately 95 percent of all subscribers, had 89.1 million subscribers at the end of Q4 2018, down 2.9 million compared to the end of 2017. Meanwhile Netflix, arguably the biggest threat to the entire industry, ended 2018 with 60.6 million domestic subscribers.