Mike Snider, USA TODAY
Scratch the theory that cord cutting might be decelerating.
Cable and satellite TV providers lost about 1.1 million subscribers during the July to September period, the largest quarterly loss ever – and the first time the industry lost more than 1 million subscribers in a quarter, according to media and telecommunications research firm MoffettNathanson.
After Dish Network reported its third-quarter earnings Wednesday, the New York-headquartered research firm tallied up the publicly reported subscriber losses to arrive at the finding.
Dish lost 341,000 subscribers in the third quarter, compared to adding 16,000 in the same period a year ago. Overall, Dish lost 367,000 satellite subscribers but added 26,000 Sling TV subscribers, the company said.
Rich Greenfield, a media and technology analyst with financial services firm BTIG in New York, arrived at a similar conclusion and called it “the third-worst quarter in industry history and worst since Q2 2016.”