Multichannel pay TV providers are in a state of fanciful denial when it comes to cord cutting and they should snap out of it, an analyst with Wedbush Securities says. Wedbush surveyed 2,500 consumers and found 7 percent had canceled basic cable service and 12 percent cut premium cable or satellite. Weirdly, 2 percent cut their Internet connections--so they must be reading newspapers.
"There is evidence of cord cutting," said Wedbush analyst James Dix.
"It's time for cable companies to lift their heads out of the sand and actually pay attention to what is happening. Then maybe we can all agree on legitimate ways for viewers to obtain the services they want, how they want them and for a fair price," chimed in Before It's News, reacting to the survey.
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