Cable TV is losing customers faster than ever. With Cable TV companies now reporting their end of the year numbers for 2019, we can see just how many customers have cut the cord. According to analyst firm MoffettNathanson, six million customers left traditional pay TV in 2019, a 7% year over year decline.
Variety reported the update from MoffettNathanson this morning. The report showed that 1.5 million of those customer losses came in the fourth quarter alone. AT&T lost more customers than any others, with a 1.16 million loss. Comcast lost 149,000 customers and Charter lost 101,000.
“Operators across the pay-TV distribution map are reassessing video strategies, and they are universally shifting, albeit to varying degrees, towards strategies that accommodate, or even encourage, cord-cutting,” Moffett and Nathanson wrote. “As video distributors change their pricing and marketing strategies, the media industry is finally facing that long-feared moment of accelerating cord-cutting.”
While cord cutting is on the rise, the number of former cable TV customers who switched to a live TV streaming service is significantly less than the total number of customer losses for cable TV. That means that many of these former customers are now looking to ad-supported streaming services and on-demand only services to provide their content.
Were you one of the six million to leave cable TV in 2019? Let us know in the comments below what made you decide to cut the cord.
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