Cord cutting accelerates as pay TV loses 1 million customers in largest-ever quarterly loss

Wonder what impact this has on ACC finances and ACC Network.

https://www.usatoday.com/story/tech/talkingtech/2018/11/07/cord-cutting-accelerates-1-m-customers-dropped-pay-tv-last-quarter/1919471002/

Scratch the theory that cord cutting might be decelerating.

Cable and satellite TV providers lost about 1.1 million subscribers during the July to September period, the largest quarterly loss ever – and the first time the industry lost more than 1 million subscribers in a quarter, according to media and telecommunications research firm MoffettNathanson.

That continues a worsening trend line for satellite TV providers. Two weeks ago, AT&T said DirecTV lost a net 297,000 subscribers during the quarter – 359,600 satellite subscribers departed, while it added 49,000 new subscribers to its streaming TV service DirecTV Now. Overall, AT&T has 25.15 million pay-TV customers; Directv, 19.6 million; U-Verse, 3.7 million; and DirecTV Now, 1.86 million.

Looking just at satellite TV departures, the industry lost 726,000 subscribers during the period. Telecom TV services, which includes AT&T's U-Verse and Verizon FiOS, lost 104,000 customers combined. 

Cable TV providers lost about 293,000 for the quarter, but its trends "are getting marginally better," MoffettNathanson suggests, as the industry lost 322,000 in the same period a year ago.

While Comcast lost the most video subscribers (106,000), it also added 363,000 broadband subscribers.

Slowing growth for DirecTV Now and Sling TV could suggest "price sensitivity" of broadband-delivered TV services may be "turning out to be greater than expected," after several of the services increased prices, the analysts said.