Media consumers are spending more time on mobile devices and less time watching television, and ratings from the past couple of years suggest that cable TV is on the decline. Since 2010, about 5 million people have ended their cable and broadband subscriptions. And for the first time ever, less than half of major broadband companies’ subscribers pay for cable TV. Broadcast and cable TV ratings have been heading downward since the end of 2011.

According to Business Insider, media stock analysts Craig Moffett and Michael Nathanson said that “the pay-TV industry has reported its worth 12-month stretch ever.” And except for when the Olympics were on the air, broadcast and cable ratings have gone consistently downward since September 2011, says Citi Research.

Just in the third quarter of 2013, all the major TV providers lost about 113,000 subscribers, notes BI. “That doesn’t sound like a huge deal — but it includes Internet subscribers, too,” notes the article. “Broadband Internet was supposed to benefit from the end of cable TV, but it hasn’t.”

BI says it’s no surprise that cable TV ratings are down. “The major networks have faced increasing competition for years from niche-interest cable channels and the better-quality programming on places like AMC and HBO,” the article states. Facebook and Google are also credited with creating an audience “ that’s about to overtake all of TV in terms of reach.”

Despite this negative trend, major networks continue to charge premiums — and are even raising prices — for TV ad spots, because it’s still difficult to gather mass audiences elsewhere. But Moffett and Nathanson say that’s “part of the problem” that prices out a lot of people, “losing the TV business even more eyeballs,” BI says.

“We’re at the beginning of a major historical shift,” BI reports, “from watching TV to watching video — including TV shows and movies — on the Internet or on mobile devices.” And network providers are scrambling to find a way to benefit.