Cable TV Continues Slow Death, Losing 400,000 Customers This Year
NEW YORK, Aug 2 (Reuters) - Stubbornly high U.S. unemployment, a weak housing market combined with a mature business prone to regular programming blackouts has seen more than 400,000 American homes drop their pay-TV service since the start of the year.
DirecTV Group, the No.1 U.S. satellite TV provider, revealed its first ever quarterly customer losses on Thursday, with some 52,000 homes dropping the service in the second quarter. That was more than analysts expected from a company long seen as the best run video provider in the industry.
Also on Thursday, Time Warner Cable Inc, the No.2 cable provider said it lost more subscribers than analysts expected with 169,000 customers leaving the service. While a small per centage of Time Warner Cable company's 12.3 million total customers, this is a 10th straight quarter of customer losses.
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