Cable Companies Continue To Hemorrhage Subscribers in 2020

Consumers Cutting Their Cable Subscriptions

Cable Companies Continue To Lose Subscribers in 2020. According to Leichtman Research Group Inc, the largest pay-TV providers in the U.S.lost about 2,065,000 net video subscribers in 1Q 2020. This was compared to a net loss of about 1,025,000 subscribers in 1Q 2019.

The total number of lost subscribers 2,065,000 represents cable, satellite and phone companies. The number also includes internet multi video programming distributors (MVPD) like Hulu + Live TV, Sling TV and AT&T TV Now

Some of the key findings for the quarter include:

  • Satellite TV services lost about 1,030,000 subscribers in 1Q 2020 – compared to a loss of about 810,000 subscribers in 1Q 2019
  • The top seven cable companies lost about 595,000 video subscribers in 1Q 2020 – compared to a loss of about 335,000 subscribers in 1Q 2019
  • The top publicly reporting Internet-delivered (vMVPD) services (Hulu + Live TV, Sling TV, and AT&T TV NOW) lost about 320,000 subscribers in 1Q 2020 – compared to about 225,000 net adds in 1Q 2019

It’s interesting to note, the numbers above don’t reflect people cutting back because of the economic impact of COVID-19. America didn’t start to shut down until the latter part of March. What will the numbers look like in quarter 2 and beyond because of COVID-19? We imagine, the numbers will be worse.

Are you one of the many people who dropped your subscription to pay services in 2020? Did you replace it with another service less expensive service? Or did you just forgo the service altogether? Let us know in the comments below.

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