The Pay TV Decline: A Canary in the Coal Mine for Traditional Media Versant, the Comcast spinoff overseeing a portfolio of cable TV channels and digital assets, reported lower second quarter revenues and profits.
Revenues dropped 3. 8% year over year to $1. 64 billion, with linear distribution – traditional pay TV channels – declining by 6. 3%.
This trend is not unique to Versant; even venerable brands such as CNBC, MSNBC, and Golf Channel are struggling in a shrinking market where cord cutting has become increasingly common.