Today AT&T reported their 3rd quarter 2019 earnings numbers and had a record loss of over 1.3 million TV subscribers in just 3 months. This comes as Comcast, Spectrum, and Verizon all reported losses last week.
So far AT&T, Spectrum, Comcast, and Verizon have reported that they lost 1,724,000 subscribers in just three months during the 3rd quarter of 2019. That works out to be over 18,739 TV subscribers lost every single day in the 3rd quarter of 2019.
What may even be scarier for traditional pay-TV is we are still waiting for companies like DISH to report their subscriber numbers. It is very likely that the total number of lost TV customers combined will go past 2 million subscribers.
Here are the TV subscriber losses in the 3rd quarter reported so far:
- AT&T 1,358,000
- Comcast 238,000
- Spectrum 77,000
- Verizon 67,000
AT&T had reported that they expected to see subscriber growth on services like AT&T TV NOW in the second half of 2019. Now though AT&T just says that subscriber losses have peaked. AT&T says that the loss of AT&T TV NOW subscribers was because of “higher prices and less promotional activity.” AT&T went on to blame the subscriber losses for DIRECTV and U-verse TV on “customers rolling off promotional discounts, programmer disputes and competition as well as lower gross adds due to the continued focus on adding higher value customers.”
Comcast has said that the TV losses come heavily from unprofitable customers. This comes as a growing number of cable TV providers move to focus on more profitable TV packages as they stop fighting for customers looking for the best deal.
The question now is how many subscribers will cable TV lose as it tries to focus on the more profitable TV customers.
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