Now is a bad time to own a pay-TV service like Comcast or DIRECTV. This week both AT&T and Comcast reported their second quarter 2018 numbers. The services lost a combined 740,000 traditional pay-TV subscribers, which works out to be over 8,000 subscribers every day.
AT&T lost about 600,000 DIRECTV and U-Verse TV customers. Comcast lost about 140,000 traditional TV customers.
At this rate just these two companies will lose over 2.9 million traditional pay-TV customers in 2018. There is some good news in the numbers. Comcast saw a big jump in the number of broadband-only customers. AT&T was able to add 342,000 DIRECTV NOW subscribers to help offset U-Verse TV and DIRECTV losses.
Even with the good news, both companies have trouble looming down the road. 5G home internet is starting to roll out, and it likely means the end of their dominance in home internet. The question now has to be asked in 3 years when 5G is rolling out what will happen to Comcast and AT&T when not only are they losing TV customers but also broadband customers.
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