Now that all the major cable and satellite TV providers have reported their Q2 2020 earnings, we know the exact amount of damage cord-cutting inflicted on traditional TV through the start of the summer.
In the second quarter of 2020, more than 1.3 million homes dropped traditional cable or satellite TV service, and most of those cord-cutters didn’t replace their standard bundle with a streaming one such as Sling TV or Hulu + Live TV. The industry as a whole lost roughly a million pay TV subscribers last quarter, and over the last year more than 5 million households have opted out of pay TV bundles, presumably in favor of cheaper streaming services and antennas.
It’s hard not to feel a tinge of schadenfreude for the TV industry. The downfall of expensive bundles was obvious years ago to anyone who was paying attention, but instead of providing more choice and flexibility, TV networks doubled down on more bloat at higher prices.
The strategy amounted to a dare: Sure, quit cable TV,…
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Source : fastcompany.com
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