According to this PwC state of streaming and pay-TV study, 68% of Americans pay for a traditional pay-TV service. This is up from 67% in 2017.
As you would expect, we are starting to see stories talking about how cord cutting is slowing down. Yet the truth is cord cutting has never been growing faster as more people are canceling cable TV than ever before. We are also seeing companies like AT&T and Spectrum post record TV subscriber losses in 2019.
Here are the major TV subscriber losses reported in the 3rd quarter:
- 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. But now 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.”
From the looks of the record-setting rate of subscribers canceling cable TV and going to streaming options, cord cutting is not slowing down as this survey would suggest. Add in the recent Spectrum price hike and the Comcast price hike coming later this month and it seems that cord cutting may be here to stay.
What do you think? Is cord cutting slowing down? Leave us a comment and let us know.
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