Satellite Provider Carnage Continues With Record Net Losses in Q3
It just keeps getting worse for cable and especially satellite providers. That much is clear after reviewing the traditional TV carnage from the third quarter. The largest cable and satellite providers — accounting for about 93% of the U.S. market — lost nearly 1.74 million net video subscribers during Q3, according to research compiled and shared by Leichtman Research Group on Wednesday. Those losses are a steep drop from the same time last year, when the top providers lost 975,000 customers, and in 2018, when a little more than 400,000 subscribers ditched their service. Altogether, the top 12 pay-TV providers now have 84.8 million subscribers — or about 7.4 million less than they did at the end of the third quarter in 2018. The latest drop was led by DirecTV’s subscriber exodus. “This marked the fifth consecutive quarter of record pay-TV industry net losses,” said. Bruce Leichtman, president and principal analyst for Leichtman Research Group. Leichtman told TheWrap Q3 set a record for net losses for pay-TV services, which was primarily driven by record net losses for satellite providers. (Cable, on the other hand, had a relatively stable quarter.) Also Read: TV Ad Spending Takes Unprecedented Dip to Account for Less...
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