— Premium TV channels Aurora and Xfinity have been losing $2 million to $3 million per year on average over the past three years, according to an analysis by The Associated Press.
Aurora and XFinity are also the only major cable companies to have reported losing money over the same period, according the AP analysis.
The AP analyzed data from a new survey by the nonprofit Consumers Union.
The Associated News obtained the data after obtaining a copy of the survey.
“Aurora’s and XFINITYs loss to pay TV is even worse,” said Chris Cox, senior vice president of government relations at Consumers Union, an advocacy group.
“The number of people in the United States who watch a TV show on TV every day is roughly the same as it was a decade ago.
The number of hours of content per day is almost exactly the same, but the number of dollars spent on cable programming has decreased dramatically over the years.”
XFINTY and Aurora are the only two cable companies in the U.S. to report losses.
XFINty reported a loss of $4.8 million to a $2.6 million loss last year, according a statement to The Associated Post.
Aurora reported a $1.4 million loss to $4 million in 2015, and XS added $2 billion to its losses last year.
Aurora said it will be cutting back on shows it currently airs, such as reality show “The Bachelor,” and moving its daytime schedule into new channels, such like ESPN.
“We’ve made an effort to streamline the schedule to better fit our current content and audience needs,” Aurora said in a statement.
“In the interim, we have also reduced the amount of time we spend on shows that we are no longer airing, such to show up to 6 p.m.
ET and 7 p.M.
ET,” it said.
XS is also considering reducing its hours of programming, and canceling daytime programs that it currently does.
Consumers Union’s Cox said it is important to understand the impact of the cable industry’s shift away from a subscription model to a pay TV model.
“Cable companies are losing money because people are watching fewer shows, which means the revenue is declining,” Cox said.
“That’s not good for the industry.
And if the industry doesn’t make any changes to its business model, the public will be less likely to pay for cable TV.”
Consumers Union also said that while most cable companies offer paid packages, there are also companies that offer bundled packages.
“There are many reasons that cable companies aren’t doing that,” Cox added.
“If you look at a typical bundle, you’re looking at one of the cheapest packages, and that’s going to have a very, very high upfront cost.”
Cox said the study also showed that cable TV is losing money to the public.
“This is the public’s money,” Cox told the AP.
“They’re paying more than they were paying 20 years ago.”