Pay-TV Lost Record 2 Million Subs in Q1

Pay-TV Lost Record 2 Million Subs in Q1

Another financial quarter, another 90 days of pain for the pay-TV market. The largest pay-TV providers in the U.S. — representing about 95% of the market — lost more than 2 million video subscribers in the quarter ended March 31, compared with a net loss of about 1 million subs in the same period last year, according to new data from Leichtman Research Group.

The top pay-TV providers account for 83.9 million subs — with the top seven cable companies having 45.2 million video subs, satellite TV services 24.1 million subs, the telephone companies 8.2 million subs, and Internet-delivered pay-TV services with 6.4 million subs.

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Satellite TV services lost about 1 million subs compared to a loss of about 810,000 subs last year. The top seven cable companies lost about 595,000 video subs compared 335,000 subs.

The top telecoms lost about 125,000 video subs compared to a loss of about 105,000 subs in Q1 2019. The top online TV services (Hulu + Live TV, Sling TV, and AT&T TV Now) lost about 320,000 subs compared to about 225,000 net adds in 1Q 2019

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“The record net losses were partly related to the impact of the coronavirus, but do not solely reflect consumers’ dropping services,” analyst Bruce Leichtman said in a statement. “Several providers cited a decrease in connects as a key component of net losses in the quarter, rather than an increase in disconnects.”

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