Pandemic accelerated cord cutting, making 2020 the worst-ever year for pay TV

 couple watching tv in their home

The pandemic has accelerated adoption of a number of technologies, from online grocery to multiplatform gaming to streaming services and more. But one industry that has not benefited is traditional pay TV. According to new research from eMarketer, the cable, satellite and telecom TV industry is on track to lose the most subscribers ever. This year, over 6 million U.S. households will cut the cord with pay TV, bringing the total number of cord-cutter households to 31.2 million.

The firm says that by 2024, the number will grow even further, reaching 46.6 million total cord-cutter households, or more than a third of all U.S. households that no longer have pay TV.

Despite these significant declines, there are still more households that have a pay TV subscription than those that do not. Today, there are 77.6 million U.S. households that have cable, satellite or telecom TV packages. But that number has declined 7.5% year-over-year — its biggest-ever drop. The figure is also down from pay TV’s peak in 2014, the analysts said.

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Why broadband users around the world are ditching pay-TV

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According to Ericsson ConsumerLab’s annual TV & Media report, Digital streaming services like Netflix and Amazon Prime Video are not the main reason broadband users are ditching pay-TV packages. The report reveals that almost half of broadband household users globally are cutting the cord because they are fed up with shelling out high prices for pay-TV packages. The report highlights what cord cutters value when paying for subscriptions and reaffirms the ways cable companies can draw TV defectors back in.

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Pay-TV industry lost 113,000 customers in third quarter of 2013

“The pay-TV industry has reported its worst 12-month stretch ever.”

2013 has been a tough year for cable-TV operators. This will probably be the worst year for the pay-TV industry in terms of customer retention, according to a report Tuesday by independent research firm MoffettNathanson.

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Americans dropping pay-TV services in record numbers

DirecTV revealed its first ever quarterly customer losses, with some 52,000 homes dropping the service in the second quarter.

High unemployment, a weak housing market ombined with a mature business prone to regular programming blackouts has seen more than 400,000 American homes drop their pay-TV service since the start of the year.

 

 

 

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