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6 Million Subscribers Cut Cable As Cord-Cutting Accelerates

With another 6 million lost subscribers in 2019 alone, it is clear that customers are still fleeing traditional cable and satellite TV in droves.

According to Yahoo, the cable and satellite industry suffered a seven percent decline over the loss from 2018. In just the last quarter of 2019, pay-TV distributors lost 1.5 million subscribers, according to Wall Street analyst firm MoffettNathanson.

AT&T lost the most with 1.4 million fewer subscribers during the 4th quarter of 2019. In addition, Comcast lost 149,000 and Charter saw a decline of 101,000.

Analysts now feel that cord-cutting is accelerating out of control for the traditional pay-TV industry, and incentives and cost cutting are no longer stemming the tide.

“As video distributors change their pricing and marketing strategies, the media industry is finally facing that long-feared moment of accelerating cord-cutting,” analysts Moffett and Nathanson wrote in a recent report.

Pay-TV has been declining since reaching a high of 87.8 percent of American households in 2009.

TV customers are canceling cable and satellite TV subscriptions in droves as they migrate to Internet-based streaming services. Younger consumers, in particular, have come to prefer Netflix and YouTube over traditional TV. And the emergence of the mega-steamers, including Disney+, Amazon Prime, Hulu, CBS All Access, HBO Max, among others are giving Americans more options outside of cable than they’ve ever had before.

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Breitbart previously reported that the number of households who canceled cable or satellite television packages doubled to nearly three million, from 1.5 million cancellations in 2017.

Source: Breitbart

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