Read time: 1 minute

How Bad Is The Economy? Even Cable Companies Are Feeling It

Our economy is so bad, even cable companies, traditionally the last thing Americans cut, have noticed: For all the talk about competitive threats from the likes of Netflix Inc or Apple Inc, it is rising poverty among households that TV executives

Our economy is so bad, even cable companies, traditionally the last thing Americans cut, have noticed:

For all the talk about competitive threats from the likes of Netflix Inc or Apple Inc, it is rising poverty among households that TV executives say is their biggest source of concern.

Executives from News Corp, Comcast Corp and Time Warner Inc, speaking at the annual Cable Show industry event, made clear the industry needed a stronger housing market and better jobs picture to win new customers and keep existing ones.

"We have to be sensitive in making sure we have a product that consumers can afford," said Pat Esser, president of privately held Cox Communications, speaking at the industry's biggest yearly event.

Investors and analysts, with a few exceptions, can often be heard worrying more about how the cable industry will cope with cheaper entertainment packages from rivals such as Netflix, Amazon.com Inc or Google Inc.

Time Warner Cable Chief Executive Glenn Britt, however, was one of the executives focusing on the hazards of a bad economy.

"There clearly is a growing underclass of people who clearly can't afford it," he said. "It would serve us well to worry about that group."

We Need Your Help Now More Than Ever

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook and social media are drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or subscribe for an ad-free experience.

More C&L Coverage

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team