Pay TV Industry Loses Record Number of Subscribers

By: From the AP
By: From the AP

NEW YORK (AP) -- The weak economy is hitting Americans where they spend a lot of their free time: at the TV set. They're cancelling cable and satellite TV subscriptions in record numbers.

In a tally by The Associated Press, eight of the nine largest pay-TV providers in the U.S., which serve about 70 percent of households, lost 195,700 subscribers in the April-to-June quarter. That's the first quarterly loss for the group.

Wider industry measures showed a loss of subscribers for the first time in last year's second quarter. This year, they're leaving faster.

The chief cause appears to be persistently high unemployment and a housing market that has many people living with their parents. But there are hints that some people are cancelling cable in favor of cheap Internet video.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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  • by Emma Bradley on Aug 10, 2011 at 12:25 PM
    Serves the greedy cable companies right.... I cut the cord last year and have been watching TV online with the TVDevo website and Redbox. TVDevo for TV shows and Live TV, and Redbox for movies.
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