television

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Man I would not want to be in the tv industry right now...this is just brutal.

Traditional cable and satellite TV providers posted their most massive quarterly subscriber losses in the first three months of 2020, as the COVID-19 tornado started to hit the U.S. economy in March. What’s more, internet-delivered “virtual” TV providers registered a net loss in the period, too.

And the cord-cutting bleeding is only going to get worse in Q2, as the economic fallout from the coronavirus takes a deeper bite, analysts predict.

The combination of high prices — amid the backdrop of record unemployment — as well as loss of live sports fueled an overall drop of 1.8 million pay-TV subscribers in Q1, per estimates by Wall Street analyst firm MoffettNathanson. That translates into an annual rate of decline of 7.6%, the fastest shrinkage of the sector on record.

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