How bad have things been for the pay-television industry lately? An estimated 300,000 Americans dropped TV service last quarter, and analysts are calling it good news.
Predictions for subscribers who canceled their video packages -- from cable, phone and satellite providers including Comcast Corp. and Dish Network Corp. -- range from about 280,000 to 360,000, based on analysts’ estimates compiled by Bloomberg. That’s about half as many as in the second quarter, which at more than 600,000 set an industry record. The losses underscored investors’ fears that cord-cutting was fraying traditional TV’s business model, contributing to a massive sell-off in media stocks in August.