AT&T LOST 390,000 SATEL­LITE TV, CABLE CUS­TOMERS IN 3Q

The Denver Post - - BUSINESS -

YORK» AT&T said it lost NEW 90,000 video sub­scribers in the U.S. in the third quar­ter. It’s a steeper drop than the same pe­riod last year, even though gains from its newer, cheaper on­line ca­ble­like ser­vice, DirecTV Now, are in­cluded. DirecTV Now wasn’t avail­able in the July-Septem­ber quar­ter in 2016.

DirecTV Now added 300,000 sub­scribers in the quar­ter, so AT&T lost about 390,000 satel­lite TV and cable cus­tomers.

AT&T, which is also the No. 2 wire­less car­rier in the U.S., blames tough com­pe­ti­tion from tra­di­tional TV providers like Com­cast and newer dig­i­tal-video ser­vices like YouTube TV. It also blames the im­pact from hur­ri­canes and stricter credit stan­dards for cus­tomers.

AT&T’s pre­dic­tion echoed Com­cast’s fore­cast in early Septem­ber of third-quar­ter losses of 100,000 to 150,000 video cus­tomers due. That would be Com­cast’s largest quar­terly loss since 2014. Com­cast also blamed com­pe­ti­tion and weather.

UBS an­a­lyst John Ho­du­lik said in a Thurs­day note that “cord cut­ting con­tin­ues to gain steam as stream­ing TV builds mo­men­tum.”

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