Cable and satellite TV providers bled a record number of subscribers in the third quarter
The ongoing subscriber exodus from traditional paid-TV packages is picking up steam, with a record number of Americans now cutting the cord and going all-in on TV delivered over broadband. That's not exactly a surprising reality, but what might surprise you is how extreme things have gotten. The trend looks especially ominous for traditional pay-TV providers, given that new data shows the third quarter saw the most subscribers ever in a three-month period (more than 1 million) give up their cable and satellite TV packages. Said another way, last quarter was paid-TV's worst quarter on record.
That's according to data from research firm MoffettNathanson, which found that AT&T, Comcast, Charter and Dish alone lost a combined 887,000 subscribers during the quarter. Losses at AT&T and Dish were the worst. Dish bled 367,000 customers, the most it's ever lost during a single quarter, while AT&T lost almost that much -- 359,000, blowing way past analyst estimates that only 245,000 subscribers would be lost.
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Cable and satellite TV providers bled a record number of subscribers in the third quarter originally appeared on BGR.com on Thu, 8 Nov 2018 at 17:33:36 EDT. Please see our terms for use of feeds.