This week we look at AT&T’s disastrous 2019 video results, how it compares to the rest of the industry, and if things will get worse in 2020.
Chapter 1: AT&T video subscriber results for 2019 (2:00)
Will reviews AT&T’s video subscriber results for the fourth quarter of 2019 and the full year. The results are, quite simply, the worst in the industry.
Chapter 2: Comcast, Verizon and 2020 pay TV loss forecast (6:00)
I compare AT&T’s results with Comcast and Verizon. Both companies lost subscribers, but their results weren’t anywhere near as bad as AT&T. I also review my forecast for U.S. traditional pay TV 2019 subscriber decline for 2019 and 2020.
Chapter 3: Is cord-cutting likely to decelerate in 2020? (11:30)
Some analysts think that those people most likely to leave pay TV have now gone. The rest, they argue, are more likely to stick around. They conclude that subscriber losses should slow in 2020. Neither Will nor I buy this argument.
Chapter 4: Cord-cutting and cord-shifting (15:20)
Many people say they have cut-the-cord, but really, they have shifted it. We discuss the difference between cord-cutting and cord-shifting.
Chapter 5: Why DirecTV is bearing the brunt of the losses (17:00)
AT&T’s DirecTV lost a much higher percentage of its subscribers in 2019 than any other operator. Single-handedly, it is responsible for almost half of the pay TV industry’s losses. Why is the service performing so poorly?
Chapter 6: The impact of peak TV on AT&T (20:00)
The impact of peak TV also impacted AT&T’s profit and income. Will reviews how HBO Max, the impending direct-to-consumer service from AT&T, is already negatively impacting AT&T’s entertainment division results.