Cutting the cord is hardly a new trend, but it’s hard not to notice it these days as customers are leaving satellite and cable in droves.
According to numbers from industry analysts MoffettNathanson, AT&T, Comcast, and Charter posted 1.25 million losses for the second quarter of this year – staggering numbers that are more than a million over the number from this time last year. The report didn’t sugar coat the information, calling it “bloodshed” for cable TV. And those numbers are only likely to accellerate even more. This comes after “worst losses ever” for the industry just last November.
And the bad news isn’t just limited to traditional TV, as Netflix missed projections for the year by more than 50%. This is a big part of why networks are scrambling to attract streaming customers like CBS All-Access.
For a while now, people have projected the end of the decade (around 2020) as the death of cable and satellite. While it’s still a little too early to call it official, it does seem like things are certainly headed that way.