With everyone scrambling this last year trying to make ends, its similar to a hot air balloon losing altitude over shark-infested waters. With disposable income drying up faster than the desert after a freak summer storm. Paid streaming TV services are one of the first of many disposable income items desperately tossed over the side.
While cord-cutters may have subscribed to several streaming TV services before the crash, many are now paring down their paid premium TV subscriptions to only one or two that offer real value.
This latest report paints a picture not quite as rosy as many in the mainstream media would like us to believe. From empty shopping malls this past Black Friday to a record number of paid subscribers dumping TV subscriptions. Tough times, unfortunately, are here again.
At least TV streamers have plenty of Free alternatives to choose from. If only, it were this easy at the grocery store.
Leichtman Research Group, Inc. (LRG) found that the largest pay-TV providers in the U.S. – representing about 92% of the market – lost about 785,000 net video subscribers in 3Q 2022, compared to a pro forma net loss of 650,000 in 3Q 2021.
The top pay-TV providers now account for about 71.4 million subscribers – with the top seven cable companies having about 38.6 million video subscribers, other traditional pay-TV services having about 24.8 million subscribers, and the top publicly reporting Internet-delivered (vMVPD) pay-TV services having over 8 million subscribers.
Key findings for the quarter include... Read the full report