Traditional Providers Losses, 2nd Quarter 2024 Edition

[Bruce]

It is that time of the month, where 2nd Quarter reports start being released-

First up, Verizon Fios with a loss of 133,000.

Fios only lost 64,000 in the first quarter, so more then double lost this quarter.

Comcast’s report is out tomorrow.

https://www.verizon.com/about/file/71959/download?token=YzbNVmUA

 

[Bruce]

Comcast is up, 419,000 lost.

With just two companies reporting, already at 522,000 gone.

https://www.streetinsider.com/Business+Wire/Comcast+Reports+2nd+Quarter+2024+Results/23490915.html

 

[Bruce]

Charter/Spectrum, has lost 408,000 TV customers in the 2nd quarter of 2024.

They lost Over 405,000 TV Customers in the 1st quarter of 2024.

Spectrum also lost 149,000 internet customers

So, for video, with just 3 companies reporting, already at 930,000 lost.

 

[Bruce]

Charter/Spectrum, has lost 408,000 TV customers in the 2nd quarter of 2024.

They lost Over 405,000 TV Customers in the 1st quarter of 2024.

Spectrum also lost 149,000 internet customers

So, for video, with just 3 companies reporting, already at 930,000 lost.

It looks like 5G Services plus all the fiber companies moving into Charter’s territories, is starting to hurt them-

 

[dishdude]

It looks like 5G Services plus all the fiber companies moving into Charter’s territories, is starting to hurt them-

I dumped Cox internet for T-Mobile 5G, it's great.

My MIL keeps asking about dumping Spectrum, both Verizon and T-Mobile 5G are available to her. Trying to decide if I want to encourage this or not...could be a big headache. We'd have to move her to YTTV.

 

[Bruce]

I dumped Cox internet for T-Mobile 5G, it's great.

My MIL keeps asking about dumping Spectrum, both Verizon and T-Mobile 5G are available to her. Trying to decide if I want to encourage this or not...could be a big headache. We'd have to move her to YTTV.

Probably save a lot of money that way, specially with all the fees Charter charges with the TV service.

They are putting Fiber in my neighborhood as I post, said they will offer it to us in about 2-4 Weeks, as soon as that happens, Charter goes bye bye.

 

[brice52]

Probably save a lot of money that way, specially with all the fees Charter charges with the TV service.

They are putting Fiber in my neighborhood as I post, said they will offer it to us in about 2-4 Weeks, as soon as that happens, Charter goes bye bye.

I have had fiber to the home since 4/1024 and I do not miss 5g home internet, which I had before for two years.

 

[ncted]

I have had fiber to the home since 4/1024 and I do not miss 5g home internet, which I had before for two years.

Whoa! Are you immortal? And did immortals have Internet back then. Man, I am so late to the game.

 

[dishdude]

Spectrum lost another. Moved my mother in law over to Verizon 5G home and YTTV. Bought the $50 Onn streamer from Walmart that everyone has been raving about and it's top notch, even the curbside pickup was easy. Setting everything up and subscribing to YTTV was simple.

The most difficult part has been returning the Spectrum equipment! Went to the store earlier and waited for 20 mins and finally left to meet for dinner. Went back and it was worse! Even some of the same people that were there earlier were still there! I have an appointment for tomorrow. I knew I was in trouble when they had cell phone charging stations...you should NEVER be there long enough that you need to charge your phone, it's not an airport!

 

[savarese04]

Spectrum lost another. Moved my mother in law over to Verizon 5G home and YTTV. Bought the $50 Onn streamer from Walmart that everyone has been raving about and it's top notch, even the curbside pickup was easy. Setting everything up and subscribing to YTTV was simple.

The most difficult part has been returning the Spectrum equipment! Went to the store earlier and waited for 20 mins and finally left to meet for dinner. Went back and it was worse! Even some of the same people that were there earlier were still there! I have an appointment for tomorrow. I knew I was in trouble when they had cell phone charging stations...you should NEVER be there long enough that you need to charge your phone, it's not an airport!

Spectrum doesn't have a service where you can drop the equip off at Fedex/UPS and it gets shipped back for you?

 

[dishdude]

Spectrum doesn't have a service where you can drop the equip off at Fedex/UPS and it gets shipped back for you?

Yes, found that out this morning.

 

[savarese04]

NASA TV shutting down this August:

NASA will shut down NASA TV on cable to focus on NASA+

NASA TV is shutting down in August.

www.engadget.com

Online channel launched in November already has 4x more viewers online than via traditional TV channel that has existed for ages. This is such a micro example of where things are headed.

 

[Bruce]

Charter/Spectrum, has lost 408,000 TV customers in the 2nd quarter of 2024.

They lost Over 405,000 TV Customers in the 1st quarter of 2024.

Spectrum also lost 149,000 internet customers

So, for video, with just 3 companies reporting, already at 930,000 lost.

Altice ( formerly Cablevision) reported, lost 72,000.

So, with just 4 companies reporting, already at over a million gone ( 1,002,000) this quarter.

Altice also lost 51,000 broadband subscribers.

Altice USA Reports Second Quarter 2024 Results

Altice USA (NYSE: ATUS) today reports results for the second quarter ended June 30, 2024. Dennis Mathew, Altice USA Chairman and Chief Executive Offic

www.businesswire.com

 

[Bruce]

So, with just 4 companies reporting, already at over a million gone ( 1,002,000) this quarter.

Fubo lost 61,000.

Now up to 1,063,000 lost this quarter.

Fubo has to be getting pretty close to shutting down, sub count keeps getting lower, only has 1.45 million subscribers left ( compared to YTTV 8 Million), lost $25.8 Million, down to $161 Million cash on hand.

Yet they are predicting they will have 1,605,000 to 1,625,000 subscribers by the 3rd quarter, which is over a 150,000 gain and 1,725,000 to 1,745,000 paid subscribers by the end of 2024.

Since Venu caters to the same audience and YTTV, both of them has the main sports channels ( except the RSNs) and a less expensive price, especially Venu, good luck at getting that number.

Fubo Closed Q2 2024 With 26% Year-over-Year Revenue Growth, 24% Year-over-Year Subscriber Growth and Exceeded Guidance in North America; Global Business Achieved 6th Consecutive Quarter of Year-over-Year Improvement in Profitability Metrics

NEW YORK, August 06, 2024--FuboTV Inc. (d/b/a/ Fubo) (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced its financial results for the second quarter ended June 30, 2024. The second quarter marked Fubo’s sixth consecutive quarter of year-over-year (YoY) improvement...

finance.yahoo.com

 

[zippyfrog]

Fubo lost 61,000.

Now up to 1,063,000 lost this quarter.

Fubo has to be getting pretty close to shutting down, sub count keeps getting lower, only has 1.45 million subscribers left ( compared to YTTV 8 Million), lost $25.8 Million, down to $161 Million cash on hand.

Yet they are predicting they will have 1,605,000 to 1,625,000 subscribers by the 3rd quarter, which is over a 150,000 gain and 1,725,000 to 1,745,000 paid subscribers by the end of 2024.

Since Venu caters to the same audience and YTTV, both of them has the main sports channels ( except the RSNs) and a less expensive price, especially Venu, good luck at getting that number.

This is a great analysis. I can't see Fubo being around much longer either, especially with this lawsuit forthcoming (I think it starts today) that it looks like they are going to lose.

 

[Bruce]

This is a great analysis. I can't see Fubo being around much longer either, especially with this lawsuit forthcoming (I think it starts today) that it looks like they are going to lose.

Fubo is going into this lawsuit believing that Disney, Fox and Warner did not do their diligence, with all their lawyers, to make sure there would not be a legal issue.

Venu is paying the same per sub fees that Fubo pays, that is how the service was designed.

 

[Bruce]

Fubo lost 61,000.

Now up to 1,063,000 lost this quarter.

Hulu Live lost 100,000.

Now at 1,163,000 lost this quarter.

Dish/Echostar reports on Friday.

edit-Regular Hulu gained 900,000, which shows more and more people are coming to the understanding, that they can get the same content from Paid Live TV for a much less expensive price from the on demand streaming services.

 

[MikeD-C05]

I think what you are seeing is people are cutting their bills. Like fast food joints are no longer packing people in at the ridiculous high prices and are having to offer a $5.00 value meal to get anyone in their restaurant and only make .25 cents off each meal in profit.

We only go to Dairy Queen and order the ice cream. The rest of the time my wife makes hamburgers and fries at home and we have Taco Tuesday and she can make the buritos like Taco bell does too - since she used to work for them at a teenager. People are learning to cut out fast food , Starbucks high priced coffee, Movies at the theater - unless it's a damn good movie they have to see there. Like Deadpool and Wolverine. We actually paid to see that one at the theater and it was worth every penny.

Now along the regular cable/satellite churn we are seeing some streaming services shutting down and people are choosing to only watch a service when a show is on they like. The rest of the time they stop subscribing.

They can bundle all those service together to save a few dollars, but I won't sub because you can't just turn one of them off. It's just another way of forcing you to subscribe to a service you don't watch.

High priced sports channels are even going to their own high priced service. If you really want it you have to pay for it. They can't use subscribers any more to subsidize their high priced sports channels like they did when cable /satellite was the rule. Luckily for me I never cared about sports at all. So more savings for me.

 

[dishdude]

I think what you are seeing is people are cutting their bills. Like fast food joints are no longer packing people in at the ridiculous high prices and are having to offer a $5.00 value meal to get anyone in their restaurant and only make .25 cents off each meal in profit.

We only go to Dairy Queen and order the ice cream. The rest of the time my wife makes hamburgers and fries at home and we have Taco Tuesday and she can make the buritos like Taco bell does too - since she used to work for them at a teenager. People are learning to cut out fast food , Starbucks high priced coffee, Movies at the theater - unless it's a damn good movie they have to see there.

Now along the regular cable/satellite churn we are seeing some streaming services shutting down and people are choosing to only watch a service when a show is on they like. The rest of the time they stop subscribing.

They can bundle all those service together to save a few dollars, but I won't sub because you can't just turn one of them off. It's just another way of forcing you to subscribe to a service you don't watch.

High priced sports channels are even going to their own high priced service. If you really want it you have to pay for it. They can't use subscribers any more to subsidize their high priced sports channels like they did when cable /satellite was the rule. Luckily for me I never cared about sports at all. So more savings for me.

That's part of it for sure. More and more people are figuring out that the content on traditional cable/satellite is overpriced and terrible. Reruns and commercials - they can get that for free on Pluto and a dozen other free services. The content providers are seeing their revenue drop from the loss of all the subs, so they jack up their rates just exacerbating the problem.

 

[prushing]

Fubo is going into this lawsuit believing that Disney, Fox and Warner did not do their diligence, with all their lawyers, to make sure there would not be a legal issue.

Venu is paying the same per sub fees that Fubo pays, that is how the service was designed.

I doubt they are as Fubo pays for total sub fee. Fubo issue is that they are not being given the option to only pay for these.

The laws don't require the same per sub fees, they don't require that Disney, Fox, WB offer the same package to Fubo, or even offer Fubo any content. Disney, Fox, and WB are correct that the supreme court has already said they can do this. It's a free market, they are allowed to offer exclusives, so there is nothing Fubo can do. Fubo is correct it will hurt their business but this isn't CABLE, there aren't established laws.

Disney, Fox, and WB, after they win this lawsuit, could then stop offering this content online outside of their service with Venu. The NFL, College, NBA, etc may have some contractual constraints but it's all possible. It could then force Congress to act but they haven't done anything to the NFL and their exclusive streaming service.