That is to say, for every five customers brought into the fold, four left it. Parks Associates found that during the first quarter, virtual cable's churn rate was around 80%. Virtual video media distributors aren't immune to the trend, either, perhaps because users are starting to become frustrated by price hikes that are starting to make streaming video nearly as expensive as linear cable television service. Even if Roku's findings modestly overstate plans to cut the cord, though, that's still a wide swath of paying customers about to say bye-bye. To be fair, lots of consumers say one thing and then do another. If 45% of them are planning to cancel, that's more than 13 million more households completely cutting the cord by the end of 2020.
QUBE CABLE TV
households only marginally attached to their cable provider adds up to nearly 30 million. Warner Amex Cable’s QUBE system was even heard about in MY neck-of-the-woods here in Storm Lake, Iowa way back then Back then, Cable TV only had 12 channels (2 thru 13 on the HVHF band of the TV dial) and was pretty much only local Sioux City, Iowa broadcast TV stations, ad well as broadcast stations imported from Omaha, Des Moines, Ames, Vermillion, S.D., and Mankato, MN. It's a significant data point simply because these cord shavers make up 25% of the United States' estimated 119.7 million households. households that qualify as "cord shavers" (customers who have already dialed back the amount of cable TV they pay for), 45% are planning to cancel their service outright within the next six months. Its 2020 research study, which was completed in March and released last week, found that, of the 25% of U.S. Roku suggests the conventional cable business in the United States could implode even faster than that. Not even the virtual cable platforms like Alphabet's ( GOOG -0.55%) ( GOOGL -0.61%) YouTube TV seem safe. Other cable players like Comcast ( CMCSA -1.70%) and Charter Communications ( CHTR 0.77%) are in trouble, too. Some customers were likely canceled because of financial issues related to the coronavirus, although surely a large number of stuck-at-home consumers signed on or remained on board while there was little else to do but watch TV.Ī recent survey performed by streaming set-top box brand Roku ( ROKU 1.21%) suggests things are likely to get worse before they get better, though, and not just for AT&T. That's technically a slower pace of losses than previous quarters, but that's largely because there are now fewer customers to lose. Between the 886,000 premium users who cut the cord - mostly DirecTV - and the 68,000 over-the-top customers who canceled their service, the company shed 954,000 customers.
Given the sheer massiveness of the number of cable television customers AT&T ( T 0.44%) lost during the second quarter, it would be easy to conclude that the COVID-19-infected quarter represents the apex of its attrition, the worst of the worst.
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