Click to Skip Ad
Closing in...
  1. Amazon Deals
    09:57 Deals

    Today’s top deals: Exclusive deals for Prime members only, $6 car detailing tool, $2…

  2. Best Camera Drone Under $100
    08:43 Deals

    Best camera drone under $100 gets a rare extra discount at Amazon

  3. Best Car Detailing Products
    14:14 Deals

    The best car detailing product is a $5.59 tool on Amazon that pros don’t want you to…

  4. Best smart plugs for Alexa
    10:38 Deals

    Best smart plugs for Alexa: Kasa smart plugs hit Amazon’s lowest price

  5. Best Meat Thermometer
    08:06 Deals

    Amazon shoppers love this $22 gadget that helps you cook perfect steak every time




Cord-cutting just hit a new record and put one more nail in traditional cable’s coffin

May 6th, 2019 at 3:05 PM
Cord cutting

Cord-cutting just a hit a new record in the first quarter of this year, as more than 1 million people said goodbye to traditional cable and satellite TV packages and continued adding momentum to a trend that probably can’t be reversed at this point.

Consider this. Pay TV bled about 3.2 million subscribers during all of 2018, another watershed year for the industry. When you consider the losses that have continued to mount during the first three months of 2019, though, we’re a third of the way there already this year.

The biggest losers included AT&T, which in fact lost the most subscribers among pay TV operators during the first quarter. More than half a million subscribers abandoned its Uverse and DirecTV offerings. Dish, meanwhile, lost more than a quarter of a million pay TV customers as its standoff with HBO has lingered since last year — and continued through almost all of the eighth and final season broadcast of HBO’s standout series, Game of Thrones.

Also during the first quarter, Comcast and Charter lost 121,000 and 152,000 video subscribers, respectively. And as a Variety report today underscores, what makes these losses even more dramatic — even beyond the fact that their sheer volume continues to hit new records — is the fact that the industry’s meager attempt at a counterweight to them (so-called skinny TV bundles) isn’t doing near enough to make up for the losses.

Take Dish’s Sling TV offering, which offers more personalization and a lower price than a typical cable package. It attracted only 7,000 new subscribers during the first quarter.

In a blog post, BTIG analyst Rich Greenfield described these results as “the worst multichannel video sub loss quarter in history.” It’s proof, he continued, in the resiliency of his prediction that we’ll continue to see “a notable acceleration in cord-cutting trends throughout 2019.”

“In many ways the collapse in multichannel video subscribers that we are now witnessing is caused by the unwillingness of Disney and other legacy media companies to allow distributors to create the channel packages that their consumers actually want,” Greenfield writes. He continues by noting that “legacy media’s forced bundling tactics continue to put business models and profits ahead of the consumer which is ALWAYS a long-term losing proposition.”

Andy is a reporter in Memphis who also contributes to outlets like Fast Company and The Guardian. When he’s not writing about technology, he can be found hunched protectively over his burgeoning collection of vinyl, as well as nursing his Whovianism and bingeing on a variety of TV shows you probably don’t like.




Popular News