By Dade Hayes Finance Editor The largest pay-TV providers in the U.S. lost nearly 2.1 million video subscribers in the first quarter, which is more than double the pro forma net loss of a bit more than 1 million in the same period a year ago.
Leichtman Research Group, which reported the number, said it was the highest level of cord-cutting on record. While COVID-19 is certainly a factor, as it began to shut down the U.S.
economy in mid-March, the research firm said it was more of a “cord-never” issue than a cord-cutter one. Instead of dropping service, more customers are simply bypassing the pay bundle altogether. “The record net losses were partly related to the impact of the coronavirus, but do not solely reflect consumers’ dropping
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