US pay TV platforms lost over a million subscribers during the July to September period, according to USA Today.
Citing finds from research firm MoffetNathanson, USA Today added that this level of subscriber loss is the biggest quarterly loss ever, and signals the first time over a million subscribers have left pay TV platforms in a single quarter.
The satellite TV industry alone lost 726, 000 subscribers in this quarter, while telecom TV services lost over 100, 000 subscribers.
Leichtman Research Group reports that the percentage of US households which use some form of pay TV service has decreased 8% over the past 5 years – from 86% in 2013 to 78% now.
These results are in stark contrast to previous suggestions that cord-cutting rates were slowing down.
South Africa’s primary pay TV player, DStv, has also lost hundreds of thousands of premium subscribers over the past few years.