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.