Cord Cutting is growing far faster than cable companies want you to believe. ESPN, one of the main reasons people pay for cable TV, is feeling the pain of the cord cutting movement.
In July of 2016 ESPN had 88.781 million subscribers, down approximately 4 million from July of 2015 when they had 92.940 million subscribers. The loss of subscribers and, more importantly, the loss of revenue is finally taking a toll on ESPN.
Recently, ESPN came out against the Big 12 expanding as it would put ESPN on the hook for an extra $20 million in payments for each new school that joins the Big 12. You also see ESPN belt tightening in the number of employees being fired. Many of these employees are not being replaced, while others are being replaced with cheaper talent.
ESPN is not alone in this. Across the board channels are bleeding subscribers as even those who still pay for cable TV have started to downgrade their packages to smaller and cheaper packages.
If ESPN keeps losing subscribers at the rate they did in July, 2016, another 2.7 million will leave ESPN over the next year.
Source: Fox Sports
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