The Wall Street Journal: AT&T’s cord-cutters are taking a toll on the company’s TV business http://ift.tt/2gEp7VZ

AT&T Inc.

T, -0.81%

 kept losing video customers over the past three months despite a wave of new subscribers using its streaming TV service, a trend that could spell trouble for the broader entertainment industry.

The telecom company said in a securities filing late Wednesday that its video subscriber base declined by about 90,000 customers in the third quarter. The decline, its third quarterly drop in a row, came despite nearly 300,000 new accounts on its DirecTV Now service, which streams channels over the internet.

The report means AT&T lost an even bigger number of satellite-TV and U-verse video customers, a sign “cord-cutters” threaten a broad array of companies that have until recently counted on traditional TV bundles for growing profits. AT&T had 25.2 million video subscribers at the end of the second quarter.

Cable giant Comcast Corp.

CMCSA, -0.72%

 last month said it also expects to lose subscribers in the third quarter, partly because of customers swapping cable subscriptions for more affordable online substitutes.

An expanded version of this report appears at WSJ.com

Popular on WSJ.com:

California’s breakup with the NFL

Fortysomethings are the new club kids

Stretching is the hot new workout—and some say that’s a reach