Thursday November 08, 2018

Over 1 Million Cord Cutters Ditch Cable and Satellite TV in One Quarter

According to research firm MoffettNathanson, over 1.1 million legacy cable and satellite TV subscribers did not continue their Pay TV services and joined the growing legion of cord cutters that stream their entertainment. To arrive at these figures, the publicly reported subscriber numbers from various Pay TV services were tallied. Satellite TV services lost 726,000 subscribers and cable TV lost 293,000 subscribers. Many customers are switching to broadband, as in the case of Comcast where 106,000 cable TV subscribers were lost, but 363,000 broadband subscribers were gained in the same period. According to Rich Greenfield of BTIG Research, sub losses were "the third worst quarter in industry history and worst since Q2 2016."

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Slowing growth for DirecTV Now and Sling TV could suggest "price sensitivity" of broadband-delivered TV services may be "turning out to be greater than expected," after several of the services increased prices, the analysts said. FuboTV last month said its subscriber base had doubled from a year ago to 250,000. The Motley Fool has estimated YouTube TV has more than 800,000 subscribers and PlayStation Vue, more than 500,000. Hulu two months ago said it surpassed 1 million subscribers. Overall, about 78 percent of U.S. TV households subscribe to some form of pay-TV service, down from 86 percent in 2013, according to Leichtman Research Group.