May 15, 2020
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.
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
“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.”