Variety reported the update from MoffettNathanson this morning. The report showed that 1.5 million of those customer losses came in the fourth quarter alone. AT&T lost more customers than any others, with a 1.16 million loss. Comcast lost 149,000 customers and Charter lost 101,000.
“Operators across the pay-TV distribution map are reassessing video strategies, and they are universally shifting, albeit to varying degrees, towards strategies that accommodate, or even encourage, cord-cutting,” Moffett and Nathanson wrote. “As video distributors change their pricing and marketing strategies, the media industry is finally facing that long-feared moment of accelerating cord-cutting.”
While cord cutting is on the rise, the number of former cable TV customers who switched to a live TV streaming service is significantly less than the total number of customer losses for cable TV. That means that many of these former customers are now looking to ad-supported streaming services and on-demand only services to provide their content.
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