In Q2 of last year, cable TV subscriptions dropped by 321,000. This year in Q2, it is expected to be “markedly worse.”
As FierceCable notes, analyst Craig Moffett is predicting that the pay-TV industry will continue losing subscribers during the second quarter. In particular, Comcast is likely to lose 120,000 video subscribers while Time Warner Cable is expected to lose 79,000 and Charter is expected to lose 33,000. Overall, the industry is expected to see video subscriber growth of -0.5 percent in the second quarter, down significantly from the same quarter a year ago.
Moffett notes that the continued rise of video streaming services (HBO Now, Sling TV) will continue hurting the TV providers bottom line. Cord cutting has gone from a predicted amount of 500,000 per year six months ago to more than 1.6M annually as of Q1.