Analysts: AT&T’s DIRECTV Promos Didn’t Keep Cordcutters

AT&T announced its preliminary quarterly numbers this week, which has led to many analysts giving their own opinions on AT&T’s numbers and what helped and/or hurt the company during the quarter. And according to analysts at MoffettNathanson, the many promotions that AT&T has been offering for both DIRECTV and its streaming service DIRECTV NOW, haven’t really helped. But what it appeared to do was slow the erosion of customers on its DIRECTV service. AT&T had been offering up discounted DIRECTV and DIRECTV NOW service to its customers, with DIRECTV NOW being as little as $10/month, and it also is giving away free HBO to its customers. Despite this, it still lost around 90,000 customers in the quarter.

When it comes down to the numbers, AT&T actually lost around 390,000 during the quarter, but it did gain about 300,000 customers on DIRECTV NOW, which offset the huge loss, making it a slightly smaller one. Now this loss of customers is not exclusive to AT&T and its DIRECTV service, all cable and satellite companies are losing customers each month. This is due to the fact that more and more people are cutting the cord to cable and going with a streaming service like Sling TV, PlayStation VUE, YouTube TV or even DIRECTV NOW. And it’s because of this that many companies are gearing towards launching their own streaming service, and Comcast is one of those that has actually already launched theirs, in select markets.

Now, AT&T hasn’t actually announced its official numbers for the third quarter yet, considering it just ended on September 30th, it’s a bit early for that. The company has not yet set a date for its earnings, but they should be announced in the coming weeks, typically done within 5 weeks of the quarter ending. AT&T, while it is struggling on the Pay TV side of things, may also be struggling when it comes to mobile. The company has been losing postpaid customers for quite a few quarters now, thanks to the increased competition and the company focusing more on Cricket Wireless rather than on its own postpaid service, that will also be included in its quarterly earnings when those come out in the next few weeks.

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