Back in June, we at Techcitement commented on the cable industry’s decision to focus on making cable more affordable. We were wondering how that was working out for them, and it looks like it’s not going down as well as they hoped.
In a tally by the Associated Press, eight of the nine largest subscription-TV providers in the U.S. lost 195,700 subscribers in the April-to-June quarter.
That’s the first quarterly loss for the group, which serves about 70 percent of households. The loss amounts to 0.2 percent of their 83.2 million video subscribers.
Once again, big cable is blaming the loss on fiscal situations, not the range of alternatives out there such as Hulu Plus and Netflix, but they still have to deal with the fact that they’re losing money. People aren’t just leaving specific cable packages behind mind you, they’re opting out altogether.
Will the cable companies think of a creative solution? Their shareholders hope that they do.
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