AT&T announced their 2018 3rd Quarter results today and the news was not good.
The company shared that while DIRECTV NOW has reached 1,858,000 subscribers, the service only added 49,000 net subscribers this quarter. This is down 85% from last quarter when they added 342,00 net subscribers.
The number of subscribers on free trials was 46,000 which means 94% of net adds were free trial members. Recent quarters saw free trials make up just 15-20% of net adds.
The dramatic drop in new user growth was likely impacted by their price increase, increased competition from services like Hulu Live TV and YouTube TV, and the fact that they stopped giving away heavily subsidized Apple TV 4K and Roku devices.
DIRECTV NOW’s modest gains were not able offset the largest decline in Satellite subscribers in two years. DirecTV lost 359,000 subscribers last quarter, while U-Verse saw subscribers increase by 13,000.
The service is still the second largest vMVPD behind Sling TV, who at last reports had 2.3 million subscribers. Hulu Live TV announced in September that they had reached 1 million subscribers, while speculation place YouTube TV at 800,000, PlayStation Vue at 400,000, and fuboTV at 250,000.
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