Cord-Cutting Spiked During the Pandemic – Here’s How High | Chart
In the time of the pandemic, the trend has become clear — cord-cutting is happening faster. While widespread stay-at-home orders have catapulted the growth of streaming, the coronavirus pandemic has accelerated a parallel trend: a sharp decline in subscriptions to the cable bundle. Pay-TV providers are coming off their worst quarter ever, shedding more than 2 million subscribers in the first three months of 2020, or around 3% of the customer base. That’s equal to roughly 40% of the total losses pay-TV providers suffered all of last year. As multiple analysts and studies have predicted, the economic impact from the global health crisis has hastened the decline of the pay-TV universe, a trend that was already keeping many cable and satellite executives up at night. This is despite the fact that people will actually watch more television on legacy platforms this year. But cord-cutting isn’t exactly a new phenomenon: The industry has been losing subscribers for some time. According to MoffetNathanson data, pay-TV ended last year with a 7% year-over-year drop in the fourth quarter of 2019. In fact, the rate of year-over-year decline has increased in every quarter since Q1 of 2018. That means that each year’s losses compared to the same...
Read original story Cord-Cutting Spiked During the Pandemic – Here’s How High | Chart At TheWrap
