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Cord-cutting just hit another record, and cable companies are in denial

The pay TV industry is in the midst of a huge change. Half a million pay TV customers cancelled their contracts in the last three months of 2017 alone, analysts at MoffettNathanson Research calculated this week. That makes a drop of 3.4% from the same period a year earlier, the biggest change since 2010. This is an undeniably huge deal for the pay TV industry, but executives are still in denial, claiming that streaming services are going to take the place of cable and make everything just fine.
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