Cable TV is Losing 4% of Its Subscribers Year-Over-Year According to FOX’s CEO

Today FOX’s CEO Lachlan Murdochdisclosed 4% of their subscribers year-over-year even with the growth of live TV streaming services. This comes as FOX reports their 3rd quarter 2019 earnings that dropped to $499 million.

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Fox's Lachlan Murdoch just stated that industry multichannel video subscribers now declining over 4% year-over-year, despite growth of vMVPDs $FOXA https://t.co/BefNnBJam5

— Rich Greenfield (@RichLightShed) November 6, 2019

So far in just the 3rd quarter of 2019 AT&T, Spectrum, Comcast, and Verizon have reported that they lost 1,724,000 subscribers in just three months during the 3^rd quarter of 2019. That works out to be over 18,739 TV subscribers lost every single day in the 3^rd 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 3^rd quarter reported so far:

• AT&T 1,358,000
• Comcast 238,000
• Spectrum 77,000
• Verizon 67,000

If this continues Spectrum, AT&T, Comcast, and Verizon Fios will lose over 6.8 million subscribers over the next year. This does not even count numbers from DISH who has yet to report their earnings.

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