It’s earnings season, and we are starting to get a look at how pay-TV providers are doing in the third quarter 2017. From the early reports, it’s not good news.
According to reports, AT&T lost around 390,000 traditional pay-TV subscribers. It is also reported that Comcast has likely lost around 150,000 pay-TV subscribers over the same period, and we are just getting started. We are still waiting for many pay-TV providers to report their numbers, but some are saying it could top 1 million customers during the three-month period.
UBS analyst John Hodulik is predicting that the entire pay-TV sector may have hemorrhaged over 1 million customers during the third quarter 2017.
Take that with a grain of salt because this is not the first time this was predicted. Back in the second quarter, many analysts thought cord cutting would hit the 1 million mark in a single quarter but it fell just short as pay-TV customers lost just 975,000 subscribers in the second quarter 2017.
What is clear is that subscriber numbers to traditional pay-TV services are continuing to fall. Yet subscribers to live TV streaming services are seeing steady growth. DIRECTV NOW currently has around 760,000 subscribers, which is up from just under 500,000 subscribers they had at the end of second quarter 2017. Sling TV, depending on what analyst you talk to, has anywhere from 1.8 million to over 2 million subscribers. YouTube TV and Hulu are both reportedly closing in on 200,000 subscribers. Finally, PlayStation Vue is rumored to have just under 400,000 subscribers.
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