Report: US Pay TV Cord-Cutting Is Accelerating

Reuters: The pace of cancellations among U.S. pay TV subscribers quickened in the second quarter as more online viewing options hit the market, MoffettNathanson analysts said at the end of a dismal week for media stocks. Analysts Craig Moffett and Michael Nathanson estimated the pay TV industry lost 566,000 subscriptions from April through June. The sector is now declining at an annual rate of 0.7 percent, they said, compared with 0.1 percent a year ago. “That may not seem like a mass exodus, but it is a big change in a short period of time. And the rate of decline is still accelerating.”