Cable and satellite TV providers lost approximately 1.1million customers from July to September.
MoffettNathanson – a media and telecommunications research firm – tallied up subscriber losses to determine their findings after Dish Network released their third-quarter earnings on Wednesday.
Subscriber losses are publicly reported.
Over 1.1million people dropped their subscription TV and cable plans, according to MoffettNathanson – a media and telecommunications research firm (stock)
Dish lost 341,000 subscribers in their third quarter. Just last year, the figure was 16,000. Dish lost 367,000 satellite subscribers, overall, but gained 26,000 new Sling TV subscribers.
Two weeks ago, AT&T announced that DirecTV lost a net 297,000 subscribers during their quarter – while they lost 359,600 satellite subscribers, they gained 49,000 new users for their DirecTV Now service.
In total, AT&T has 25.15million pay-TV customers; DirecTV has 19.6 million; U-Verse has 3.7 million; and DirecTV Now has 1.86 million subscribers.
Dish lost 341,000 subscribers in their third quarter. Just last year, the figure was 16,000
When looking at just satellite TV departures, 726,000 customers left their plans. Telecom services lost just 104,000 subscribers, USA Today reports.
For cable TV there were 293,000 customers who ended their services, but MoffettNathanson claimed that the trends ‘are getting marginally better.’ This time last year, there were 322,000 customers who left.
Comcast lost the most video subscribers at 106,000 but gained 363,000 broadband subscribers.
The decrease in the rate of growth for DirecTV Now and Sling TV allows for the inference that ‘price sensitivity’ of broadband TV services could be ‘turning out to be greater than expected.’
Some services – like FuboTv – weren’t listed but MoffettNathanson did state that there were ‘anecdotal reports of strong growth of smaller players’ that could imply a ‘shift in leadership’ for broadband-deliver services.
In October, FuboTV stated that its base doubled from a year ago to 250,000.
YouTube TV was estimated at having 800,000 subscribers, PlayStation Vue had more than 500,000 and Hulu said that is surpassed its 1million mark back in September.
Rich Greenfield, media and technology analyst with financial services firm BTIG in New York, said that the total loses marked ‘the third worst quarter in industry history and worst since Q2 2016
There are now 78 per cent of U.S. TV household that subscribe to some variation of pay-TV, which is down from 86 per cent in 2013.
From April to June, top pay-TV providers lost approximately 415,000 subscribers. That was the fewest net losses in four years.
While that could be seen as a sign of decreased cord cutting, MoffettNathanson claimed that an increase in new households hid defections of longtime customers.
Rich Greenfield, media and technology analyst with financial services firm BTIG in New York, said that the total loses marked ‘the third worst quarter in industry history and worst since Q2 2016.