Over the past two weeks cable companies like Spectrum and Comcast have released their subscriber numbers as part of their second quarter earnings. As you may have heard, many companies reported record-setting losses including AT&T with almost a million subscribers lost in the second quarter of 2019.
Now the research group MoffettNathanson has posted that they predict cord cutting will hit an all-time high of 5.5%.
“With Comcast’s, AT&T’s and Charter’s 2Q earnings in the books, the read on traditional cord-cutting is freaking ugly,” MoffettNathanson Principal Analyst Craig Moffett said.
Craig Moffett went on to say, “Even adding back virtual MVPD subscribers, the drop will be 2.7%, a new low. We would expect that this trend will continue to accelerate over the back-end of 2019.”
Earlier this year we heard growing speculation that cord cutting would slow down in 2019. Now it seems that cord cutting is speeding up to new records. A growing number of voices are warning that cord cutting is, in the words of MoffettNathanson, getting “freaking ugly.”
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