Cord-cutting spikes fivefold in cable TV’s worst quarter ever
Cable's day of reckoning has come. With all the major cable and satellite companies having reported their quarterly numbers, analyst firm MoffettNathanson put together a new cord-cutting report, and things are bad. Pay-TV providers lost an estimated 762,000 pay-TV subscribers over the first three months of this year—five times more than they lost during the same period last year. To make matters worse, Q1 has historically been a strong season for pay TV.
"For the better part of 15 years, pundits have predicted that cord-cutting was the future," an apocalyptic Craig Moffett wrote. "Well, the future has arrived."
As I wrote last week, Comcast was the only major provider to buck the trend, but judging by the way things look, that winning streak won't last.