Written by: Roshan Dwivedi
Nothing’s worked for the Pay-TV industry in the recent times. Going by the new Bloomberg estimate, it seems to have gotten worse than ever.
About 300,000 Americans have given up their TV service last quarter and the cord cutting sympathizers are calling it a big news.
Analyst estimates for TV subscribers pegs the figure at 280,000-360,000 for subscribers who canceled their video packages from cable, phone and satellite providers including Comcast and Dish Network. At 600,000 in Q2, this looks ‘okay’ but the consistency of losses is alarming for the industry.
Other analysts have defended the numbers claiming that the big numbers over the summer were not really due to cord cutting but due to a series of industry mergers that distracted pay-TV providers from offering promotions to attract more customers. They went even further claiming that second quarter is also seasonally the most challenging because college students cancel subscriptions at the end of their school terms.