Cable cut accelerates as pay TV loses 1 million customers in the largest quarterly loss in history
Cable cut accelerates as pay TV loses 1 million customers in the largest quarterly loss in history
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The cord cut is getting complicated. How do you know which of the main streaming services (Netflix, Amazon Prime, Hulu, not to mention many smaller ones) is the best for you? Kim Komando guides you through your options.
Kim Komando, special for USA TODAYRestore the theory that the cable cut may be slowing down.
Cable and satellite TV providers lost approximately 1.1 million subscribers during the period from July to September, the largest quarterly loss in history, and the first time the industry lost more than 1 million subscribers in a quarter, according to the MoffettNathanson media and telecommunications research firm.
After Dish Network reported its third-quarter earnings on Wednesday, the New York-based research firm recorded the losses of publicly-informed subscribers to reach the find.
Dish lost 341,000 subscribers in the third quarter, compared to the addition of 16,000 in the same period last year. Overall, Dish lost 367,000 satellite subscribers, but added 26,000 Sling TV subscribers, the company said.
Rich Greenfield, a media and technology analyst with financial services firm BTIG in New York, came to a similar conclusion and called it "the third worst quarter in the history of the industry and the worst since the second quarter of 2016" .
That continues a trend line that gets worse for satellite TV providers. Two weeks ago, AT & T said that DirecTV lost a network of 297,000 subscribers during the quarter: 359,600 satellite subscribers left, while adding 49,000 new subscribers to its DirecTV Now television broadcast service. In general, AT & T has 25.15 million pay television customers; Directv, 19.6 million; U-Verse, 3.7 million; and DirecTV Now, 1.86 million.
Regarding satellite television outlets, the industry lost 726,000 subscribers during the period. Telecom TV services, which include U-Verse of AT & T and Verizon FiOS, lost 104,000 customers in total.
Cable television providers lost about 293,000 in the quarter, but their trends "are marginally improving," suggests MoffettNathanson, as the industry lost 322,000 in the same period last year.
While Comcast lost the majority of video subscribers (106,000), it also added 363,000 broadband subscribers.
The slowdown in the growth of DirecTV Now and Sling TV could suggest that the "price sensitivity" of broadband television services may be "bigger than expected" After several services increased prices., the analysts said.
MoffettNathanson did not list firm numbers for services like fuboTV, but said there were "anecdotal reports of strong growth of smaller players" that could suggest a "change in leadership" in services provided by broadband. FuboTV said last month that its subscriber base had doubled from a year ago to 250,000. The Motley Fool has estimated YouTube TV It has more than 800,000 subscribers and PlayStation Vue, more than 500,000. Hulu Two months ago he said that it exceeded 1 million subscribers..
Overall, about 78 percent of US television households subscribe to some type of pay-TV service, compared with 86 percent in 2013, according to Leichtman Research Group.
During the period from April to June, the main providers of pay television lost around 415,000 subscribers, the lowest net loss in four years in what is traditionally a weak quarter, the company said.
Some pointed to it as a sign that the cable cut was slowing down. Not so, says MoffettNathanson. According to analysts, an increase in new homes, many of which will show as new subscribers of pay television, hid the desertion of long-standing customers.
With the new homes that work "a total of 249 thousand households per quarter faster than a year ago", you should expect to see "on average, about 200 thousand subscribers per quarter" more than a year ago.
As that is not the case, the verdict is: "The cable cut does not seem to be slowing down at all," they said.
Plus: We discover why more satellite customers cut cable: higher rates
Plus: Wait for these Netflix rivals thanks to the merger of AT & T-Time Warner
Follow Reporter Mike Snider of USA TODAY on Twitter: @MikeSnider.
Read or share this story: https://www.usatoday.com/story/tech/talkingtech/2018/11/07/cord-cutting-accelerates-1-m-customers-dropped-pay-tv-last-quarter/ 1919471002 /
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