Traditional Providers Losses, 2nd Quarter 2023 Edition

[Bruce]

First report out for the second quarter-

Verizon lost 69,000 Fios TV customers, down about 8.6% from the year before.

Now this, I have read rumors but not a confirmation, but here it is-

It is important to note that Verizon no longer sells its Fios TV service to new customers. Now it offers YouTube TV to its home internet customers.

https://www.verizon.com/about/news/...h-and-cash-flow-highlight-verizons-2q-results

https://cordcuttersnews.com/verizon...omers-but-saw-strong-5g-home-internet-growth/

 

[Bruce]

Second Report out and wow-

Comcast continued to bleed traditional cable TV customers, losing 543,000 subscribers during the quarter. The company had less than 15 million total domestic cable TV customers as of June 30.

Last year in Q2, it had lost 521,000, so a slight increase.

By the way, also lost 19,000 Broadband subs this quarter.

https://www.cnbc.com/2023/07/27/comcast-cmcsa-2q-earnings-2q23.html

 

[Bruce]

So, already over 600,000 gone in the second quarter, Charter/Spectrum is up tomorrow.

 

[klang]

 

[SamCdbs]

https://www.indiewire.com/news/busi...llion-dollars-comcast-q2-earnings-1234887557/

 

[Bruce]

https://www.indiewire.com/news/busi...llion-dollars-comcast-q2-earnings-1234887557/

There is a Peacock thread for that, this is for Traditional Providers losses, which look to be another 2 Million gone this quarter.

 

[SamCdbs]

And still mega profitable.

Unlike streaming. Now and forever.

 

[meStevo]

And still mega profitable.

Unlike streaming. Now and forever.

Except Netflix, but don't let facts get in the way of your off topic trolling.

 

[ncted]

It is easy to be profitable when you are charging people hundreds of dollars a month for dreck...until people realize they don't want to pay that anymore. Good thing that isn't happening.

 

[Bruce]

And still mega profitable.

Unlike streaming. Now and forever.

Except Netflix, but don't let facts get in the way of your off topic trolling.

I thought he was warned off from doing this from the mods?

 

[Bruce]

Charter is out, but they are reporting it differently, they are now including Business Customers in their video totals, so while they are down 200,000 (total video subs-14,706,000), Residential is 14,071,000, Business is 635,000.

They also did not put video losses in the press release.

So down 200,000 with a asterisk

Total down 790,000 this quarter with only three companies reporting.

https://ir.charter.com/static-files/30173474-4369-4266-97ba-9b2ffaa39fe6

Edit, a news story-

https://cordcuttersnews.com/spectru...er-of-2023-as-cord-cutting-continues-to-grow/

 

[MikeD-C05]

And all the losses and yet the providers still don't change their way of doing business. If I was losing subs like that I would be revamping everything to attract new subs and keep the old ones too. Lose the excess fees and uncalled for charges and you might see some stay with you. But when you have like $36.00 in FEEs just for the $15.00 dvr fee and the $7.00 additional receiver fees x 3, you are already in the hole. Cut the fees out and see how many would stay just for not having to pay these fees.

 

[N6BY]

And all the losses and yet the providers still don't change their way of doing business. If I was losing subs like that I would be revamping everything to attract new subs and keep the old ones too. Lose the excess fees and uncalled for charges and you might see some stay with you. But when you have like $36.00 in FEEs just for the $15.00 dvr fee and the $7.00 additional receiver fees x 3, you are already in the hole. Cut the fees out and see how many would stay just for not having to pay these fees.

Another thing they could change would be to let you choose the channels you want and stop dealing with providers who force bundles of channels.

Also, they shouldn't force people to get local channels if they already have an antenna. And they should get rid of the expensive "Regional Sports Fee" if a customer doesn't want it.

 

[dishdude]

Another thing they could change would be to let you choose the channels you want and stop dealing with providers who force bundles of channels.

Also, they shouldn't force people to get local channels if they already have an antenna. And they should get rid of the expensive "Regional Sports Fee" if a customer doesn't want it.

Unfortunately a lot of this is contractual with the big media companies, their greed will be their downfall. The chickens are coming home to roost!

 

[N6BY]

Unfortunately a lot of this is contractual with the big media companies, their greed will be their downfall. The chickens are coming home to roost!

Yeah, they are in contracts now. But when it comes time to renew maybe with declining subs they will have leverage to unbundle the existing forced channel bundles.

 

[dishdude]

Yeah, they are in contracts now. But when it comes time to renew maybe with declining subs they will have leverage to unbundle the existing forced channel bundles.

Unfortunately they seem to be trying to make up the loss of revenue from declining subs by increasing carriage fees...something has to give.

 

[Bruce]

Unfortunately they seem to be trying to make up the loss of revenue from declining subs by increasing carriage fees...something has to give.

It was to their (Broadcasters) benefit to have as many channels as possible, both to get more per sub fees and Advertising.

Now it is starting to work against them, Cable/Satellite only has about 55 million subscribers ( from a 100 million in 2017), so the channels‘ profits are less and less ( some are unprofitable already), Advertising have moved to the FAST Services like Pluto and other streaming services, because it is cheaper and can do better targeted ads.

But Providers are not helping, both Comcast and Charter have announced their second price increase of the year, which drives away even more customers, which means even more losses for the broadcasters because of less per subs fees.

 

[Bruce]

Also, they shouldn't force people to get local channels if they already have an antenna. And they should get rid of the expensive "Regional Sports Fee" if a customer doesn't want it.

Fees like the above are what keep me away, do not watch the Florida RSN, all the content I wish to watch from the locals (Networks), I watch on the streaming services for the better quality.

Then the box fees, I have 11 Rooms with TVs, but only use 2 all the time, the other rooms are used when I have guests during the holidays, that would **** me off if I had to pay box fees for 9 rooms all year just for a month of service.

Just turn on unlimited streams for YouTube TV for a month, cost is $10, swwitch it back after they leave.

 

[N6BY]

Fees like the above are what keep me away, do not watch the Florida RSN, all the content I wish to watch from the locals (Networks), I watch on the streaming services for the better quality.

Then the box fees, I have 11 Rooms with TVs, but only use 2 all the time, the other rooms are used when I have guests during the holidays, that would **** me off if I had to pay box fees for 9 rooms all year just for a month of service.

Just turn on unlimited streams for YouTube TV for a month, cost is $10, swwitch it back after they leave.

What gets me is that even if you buy your own extra receivers, you still have to pay to have them connected.

... We used to get TV from a local cable company "Consolidated Communications". The bill had about a dozen add-on fees. I asked them what the fees were and the reps didn't even know what some of them were. They all had cryptic abbreviations. And every month the bill kept going up. Periodically I would have to call them and my bill would go down. I eventually ditched them.

Apparently my community had enough with them because they are no longer in the TV business!

 

[Bruce]

Altice/used to be Cablevision just reported, 68,300 left.

On the earning call, the CEO was again asked the question of dropping Live TV and outsourcing it, his answer “We are looking at all of these options”.

Now at 858,300 gone with only 4 Companies reporting so far.

https://www.marketscreener.com/quot...Reports-Second-Quarter-2023-Results-44499235/