Q2 was rough for a lot of companies this year – even streaming companies like Netflix. But few industries had as bad of a quarter overall as cable companies did. Comcast and Time Warner Cable reeled with subscriber losses, and they weren’t alone. In fact, every single major cable company in the country lost subscribers in Q2 of 2016.
According to Ars Technica, the 11 biggest pay TV providers lost a collective 665,000 subscribers this quarter. That’s worse than the same quarter last year (545,000) or the year before that (300,000), and marks trend of increasing losses. It’s fair to take these figures as a sign of the industry as a whole, because the 11 providers in question make up 95% of the pay-TV market.
The general trend fits what we’ve seen in years past: as more and more OTT and OTA options become available to consumers, people just don’t want to pay for cable anymore. But the fact that this has happened without exception across the board is a remarkable sign that the cord cutting trend is still incredibly powerful.
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