The reports states that from the game’s peak of 1.7 million subscribers, it has declined to about 1.25 million at the end of March, based on server statistics provided on TorStatus.net.
The report suggest that the reason for the decline is lack of end-game content. Cowen’s Doug Creutz stated the following,
We believe that the apparent decline in subscribers is most likely due to a lack of ‘end-game’ content for the title, meaning that players who hit the level cap have few compelling options in terms of ongoing game play. While the game got off to a good start, the relatively light amount of end-game content does appear to be taking a toll.
We believe EA is attempting to address the end-game content issue, including a recent major game update, but momentum appears to have stalled and we believe it is prudent to adopt a more conservative forecast on subscribers at this time.
For those of us following SWTOR, this comes at no surprise considering the amount of promotions EA and BioWare have been giving out over the last month. Checking Xfire stats, you can also clearly see the the decline in activity for the game, although it looks like for April it’s plateaued a bit.