Illustration by Alex Castro / The Verge
AT&T’s TV business took an enormous hit last quarter, losing nearly 1.4 million subscribers — an increase of around 1 million from the same quarter the prior year. Both sides of AT&T’s TV business were to blame: AT&T TV Now, the company’s streaming service, has been losing subscribers since the end of 2018, while AT&T’s traditional TV services saw already large losses grow by more than 3x year over year.
Traditional TV businesses have been struggling across the industry, so AT&T isn’t alone in dealing with growing subscriber losses. But the company finds itself in a bad spot with its would-be replacement option — AT&T TV Now — already shrinking after just a few years on the market. The service, originally called DirecTV Now, peaked at…