Cord cutters caused largest second-quarter drop in subscriptions, with about 5 million customers ditching their cable and satellite companies
For years, cord-cutting has threatened traditional cable and satellite providers like a slow approaching storm. Now, the floodgates appear to have burst open.
Cable and satellite providers just suffered their worst single-quarter subscriber drop in history, with about 1.5 million customers ditching their service during the second quarter. The ugly period wasn’t an aberration, but rather an acceleration of the pay-TV industry’s continued decline in the last year.