Cable TV Lost 1.1 Million Subscribers Last Quarter. They Went Here.
U.S. consumers continue to cancel their conventional cable services. The nation's six biggest names in the business (which Leichtman Research says accounts for about 95% of the market) collectively lost a little over 1.1 million customers during the three-month stretch ending in June, slowing down Q1's cord-cutting pace of more than 1.5 million, but continuing the bigger-picture cord-cutting cadence that's been a problem for the industry since 2014.
Image source: Getty Images.
AT&T (NYSE: T) led the way with its loss of 443,000 subscribers as its flagship platform DirecTV undergoes the major disruption of changing ownership hands, although the satellite-based service was bleeding customers well before the sale of DirecTV was even considered. No outfit gained subscribers, though, even including the better-established cable television brands like Comcast's (NASDAQ: CMCSA) Xfinity and Charter Communications' (NASDAQ: CHTR) Spectrum.
Source Fool.com
