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Pay-TV Cord Cutters Topped 1 Million in 2012, Reports Says

About 1.08 million U.S. pay-TV customers canceled service in favor of Netflix Inc. and other online options last year, according to a report.

The estimate from Toronto-based Convergence Consulting Group Ltd. brings the total number of cord-cutters to 3.74 million since 2008. The total will reach 4.7 million this year, the group forecast. The number of people canceling service last year was equal to 1.1 percent of pay-TV accounts.