AT&T trying to juggle all its business lines
Not just a phone network… AT&T is a jack of all media and communications trades. It owns pretty much everything, except for your spirit: CNN, HBO, TBS, Warner Bros, DirecTV, and (of course) AT&T wireless are just a few of its many possessions. There's a lot going on. And you know what they say about jacks of all trades...
Master of none?... AT&T's earnings this quarter were not pretty, with sales and profits both declining. The corona-conomy has dealt a triple whammy blow to AT&T's prized media possessions:
It's official: cord-cutting has accelerated... Last month, we summarized “accelerating trends” that we predicted would happen in the corona-conomy. AT&T's earnings provide the data confirming that cord cutting is taking off. AT&T has lost 19% of its cable and DirecTV subscribers in the past year. HBO Max, which launches on May 27 for $14.99/month, is AT&T's big streaming hope to offset cable losses.