LRG: U.S. Pay-TV Providers Shed 650,000 Subs in Q3

Leichtman Research Group (LRG) is reporting that the largest pay-TV providers in the U.S. lost about 650,000 net video subscribers in Q3 2021, compared to a pro forma net loss of around 90,000 in the year-ago period.

The top pay-TV providers—representing about 93 percent of the market—now account for about 77 million subscribers, with the top seven cable companies having 41.9 million video subscribers, other traditional pay-TV services having over 27.5 million subscribers and the top publicly reporting internet-delivered (vMVPD) pay-TV services having 7.5 million subscribers.

Top cable providers had a net loss of about 700,000 video subscribers in the third quarter, compared to a loss of about 380,000 subscribers in Q3 2020. Other traditional pay-TV services had a net loss of about 635,000 subs in Q3, compared to a loss of about 780,000 subscribers in the same period a year ago. Top publicly reporting vMVPDs added about 680,000 subscribers in the period, compared to a gain of about 1,070,000 subscribers in Q3 last year.

“While Pay-TV net losses in the quarter increased from last year’s third quarter, annual net losses were relatively similar to a year ago,” said Bruce Leichtman, president and principal analyst for Leichtman Research Group. “Over the past year, top pay-TV providers had a net loss of about 5,100,000 subscribers, compared to a loss of about 4,820,000 over the prior year.”