Pay-TV Industry Continues to Shed Subscribers -- 217,000 More Customers Cut the Cord LA Times
The pay-television industry was down 217,000 customers in the second quarter compared with a year earlier because of cord cutting, reports the Los Angeles Times, citing an SNL Kagan report.
Traditional cable companies are losing more customers to satellite and telecom competitors that are also in the video business, the story says.
"The report illustrated why Time Warner Cable had little choice but to settle its contentious dispute with CBS Corp., which led to a monthlong blackout of CBS-owned stations in Los Angeles, New York and Dallas," the article points out.
The piece continues: "The SNL Kagan report primarily highlighted comparisons from the first quarter of this year to the second quarter. That comparison showed that the cable, satellite and telco video service companies collectively lost 366,000 TV subscribers when looking at one quarter to the next.
"Still, the losses represented an 11% improvement from the same measurement period in 2012 when the number of subscriber losses reached 411,000."