|Cord-Cutting Accelerated in 2019, Raising Pressure on Cable Providers|
The pace at which people are abandoning traditional pay-TV packages accelerated by more than 70% last year, as prices continued to rise and consumers gravitated to more affordable streaming options.
Large cable and satellite companies lost about 5.5 million traditional pay-TV customers last year, a roughly 8% decline, according to public filings. The numbers—which exclude smaller providers that have yet to report results for the entirety of 2019—are much larger than the loss of 3.2 million subscribers in 2018.
Traditional pay-TV customers are expensive for cable companies to keep, between installation and equipment costs and the ever-rising price of programming, which has led cable and satellite providers to raise their rates. Analysts predict more American households will cut the cord this year.
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