It appears that cutting the cable cord is gaining in popularity as an estimated 1 million homes did so in 2011.

According to a new study (PDF link) released by Toronto-based Convergence Consulting Group Ltd., an estimated 1 million people cut the cord in 2011.  Additionally, new subscriber sign-ups took a dramatic hit with only 112,000 net subscribers being added last year, off sharply from the average of 2 million a year the industry enjoyed between 2000 to 2009.

Not everything in the study is bad news, however, as the pace of defections is expect to slow a bit in 2012.  An estimated 930,000 subscribers are expected to walk away this year bringing the total to 3.58 million, or 3.6 percent of all subscribers.  The slowdown in defections is expected due to tightening controls in content and rates possibly going up to access what is there.

Things were slightly better up in Canada as 220,000 net subscribers signed up for service in 2011, but that number is expected to drop in 2012 to 180,000.

It does appear that cord cutting is becoming an actual movement, but it's still a long way off from making the cable and satellite providers truly nervous.