The rise of Internet TV platforms is causing havoc in the camp of traditional TV providers. In the last quarter, the top 20 cable TV providers lost nearly 0.5 million subscribers. The loss was caused by the growing popularity of online video streaming services. Amazon.com, Inc.,DISH Network Corp (NASDAQ:DISH) and Netflix, Inc. are some of the over-the-top (OTT) TV providers that are causing woes for the traditional TV industry.
Pay-TV companies are having a rough time this year. After booking their first net loss of subscribers in the first quarter of 2015, subscriber churn continues for these entertainment providers. It has emerged that the top 20 traditional pay-TV providers lost a combined 490,000 subscribers in the second quarter of 2015. Of course, cable companies still have hold of tens of millions customers, but the recent developments reveal a worry trend for the companies.
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