Despite streaming services and live programming from traditional operators, the industry saw a decline in customer numbers.
Major US media companies Comcast, AT&T and Charter, reported a combined loss of more than 1.2 million traditional video subscribers in the second quarter of the year. Analyst firm MoffettNathanson said it expects an overall cord-cutting rate of 5.5% for Q2 and expects further decline.
In the last five years, cable and broadcast network’s audience reach has dropped by 7% and 17%, respectively. However, over the same period, the average length of per-viewer tune-ins to individual networks has increased.
MoffettNathanson said advertising spends for the quarter would remain mostly flat. Cable’s C3 ratings, the metric used for buying and selling TV advertising, has declined by 14%. Broadcast network ratings also saw a 9% decline in Q2.
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