Americans are bailing on cable and satellite TV, switching expensive services for the explosion of freebies on their smart televisions, according to a new analysis.
DSLReports revealed that 1 million consumers "cut the cord" in the first quarter of 2017, continuing the switch to cheaper services.
Citing the authoritative Wall Street research firm MoffettNathanson, the outlet said, "the sector lost about 1 million pay TV subscribers last quarter, with the losses hitting Dish Network, DirecTV, and AT&T particularly hard."
MoffettNathanson said, "Things are getting worse. But at least in Q2 they got worse more slowly. Less worse. Or, not as worse. Or, well, you get the idea."
According to the report Dish satellite TV lost another 196,000 subscribers and DirecTV lost 156,000.
DSLReports blamed the increasing costs of TV services. "The biggest reason for these ongoing defections? Customers are tired of paying an arm and a leg for bloated cable TV bundles and historically-atrocious customer service, and despite a lot of lip service toward competing more seriously on channel flexibility and price, most cable operators continue to think that raising rates anyway is the best path forward," it said.
The internet is a major competitor now, especially as smart TV's offer Amazon and other content providers. Some TV stations, like the new and LevinTV, featuring conservative radio's Mark Levin, are offered exclusively via the internet.
Paul Bedard, the Washington Examiner's "Washington Secrets" columnist, can be contacted at email@example.com