'Big Cable' Lost Over $55 Million In Q2 Despite Lockdown-Driven Couch-Surfing


'Big Cable' Lost Over $55 Million In Q2 Despite Lockdown-Driven Couch-Surfing

by Tyler Durden Fri, 08/28/2020 - 21:40
One would imagine, with tens of millions of Americans quarantined at home during the second quarter, that years of cord-cutting would not just subside but reverse. However, according to the website Kill The Cable Bill, people canceling their pay-TV subscriptions during the lockdown period accelerated. 
Kill The Cable Bill cited a report from Leichtman Research, revealing major cable companies lost 501,400 subscribers in the three months ending on June 30. 
Here's a breakdown of the exodus: 
·        Comcast:               -478,000
·        Charter:                  +94,000
·        Cox:                        -50,000
·        Altice:                      -34,600
·        Mediacom:              -17,000
·        Atlantic Broadband:  -2,800
·        Cable One:              -13,000
Kill The Cable Bill estimates the 501,400 subscriber decline equates to approximately $55 million loss for cable companies over the period. 
The most recent estimates put the average cable bill at $109.60 per month. So when you crunch the numbers, that means Big Cable lost about $54,953,440 from subscribers in the second quarter. We also know that the average cable bill includes $37.11 in "hidden fees," which are the fees tacked onto your bill after the advertised price. With the amount of subscriber losses this past quarter, Big Cable lost $18,606,954 in hidden fees alone! - Kill The Cable Bill
Cord-cutting was not limited to cable. Satellite TV services DIRECTV ((846,000)) and Dish ((40,000)) collectively lost nearly 886,000 subscribers in the second quarter, equating to a loss of approximately $97,105,600. 
In total, big cable and satellite operators lost $152,059,040 over the period. Those who cut their pay-TV subscriptions gravitated towards streaming TV services, such as Netflix. 
Netflix, during the second quarter, added about 10.2 million subscribers but warned subscriber growth is expected to wane. In the first quarter, the streaming TV service added 15.8 million subscribers. 
"If Big Cable couldn't stop the bleeding with more people than ever stuck at home watching TV, then there is truly no hope for the traditional pay-TV model," Helen Back, Editor-in-Chief of Kill The Cable Bill said.
Back said, "Netflix was able to capitalize, adding 10 million subs in Q2, underscoring the unstoppable shift to inexpensive streaming services." 
Not even a pandemic (see: ""Perfect Storm" - Cord-Cutting Erupts In Pandemic As Pay-TV Crumbles"), with millions stuck at home, for various reasons, if that is under a public health order, or now remote working or just people stuck on their couches as depressionary unemployment crushes the economy - big cable is seriously doomed. 
https://www.zerohedge.com/markets/big-cable-lost-over-55-million-q2-despite-lockdown-driven-couch-surfing

Comments

Post a Comment

Popular posts from this blog

BMW traps alleged thief by remotely locking him in car

BMW traps alleged thief by remotely locking him in car Stealer's Wheel? Seattle police department quotes "Watchmen" movie in a recap of the recent arrest. Tech Culture by Gael Fashingbauer Cooper December 4, 2016 5:00 PM PST It's maybe the most satisfying arrest we can imagine. Seattle police caught an alleged car thief by enlisting the help of car maker BMW to both track and then remotely lock the luckless criminal in the very car he was trying to steal. Jonah Spangenthal-Lee, deputy director of communications for the Seattle Police Department, posted a witty summary of the event on the SPD's blog on Wednesday. Turns out if you're inside a stolen car, it's perhaps not the best time to take a nap. "A car thief awoke from a sound slumber Sunday morning (Nov. 27) to find he had been remotely locked inside a stolen BMW, just as Seattle police officers were bearing down on him," Spangenthal-Lee wrote. The suspect found a ke...
Read more

Report: World’s 1st remote brain surgery via 5G network performed in China

World’s 1st remote brain surgery via 5G network performed in China Published time: 17 Mar, 2019 13:12 ·           A Chinese surgeon has performed the world’s first remote brain surgery using 5G technology, with the patient 3,000km away from the operating doctor. Dr. Ling Zhipei remotely implanted a neurostimulator into his patient’s brain on Saturday, Chinese state-run media  reports . The surgeon manipulated the instruments in the Beijing-based PLAGH hospital from a clinic subsidiary on the southern Hainan island, located 3,000km away. The surgery is said to have lasted three hours and ended successfully. The patient, suffering from Parkinson’s disease, is said to be feeling well after the pioneering operation. The doctor used a computer connected to the next-generation 5G network developed by Chinese tech giant Huawei. The new device enabled a near real-time connection, according to Dr. Ling.  “You barely feel that th...
Read more

New ATM's: withdraw money with veins in your finger

New cash machines: withdraw money with veins in your finger Cash machine technology that reads the pattern of finger veins is already available in Japan and Poland   By Telegraph Reporters 6:59PM BST 15 May 2014 Cash machines could soon be installed with devices that identify customers by reading the veins in their fingers. The technology is already being rolled out in Poland, where 1,730 cash machines will this year be installed with readers, negating the need for a debit card and Pin. Developed by Hitachi, the Japanese electronics firm, the machines read the patterns of the veins just below the surface of the skin on your finger using infra-red sensors. The light is partially absorbed by haemoglobin in the veins to capture a unique finger vein pattern profile, which is matched to a profile. The technology is used by Japanese banks and also in Turkey, offering “groundbreaking levels of accuracy and speed of authentication”, Hitachi said, which in t...
Read more