We have reports that Sony is shutting down its live TV service(PlayStation Vue), and the reason behind this is limited customers and rising content costs.
Recently, Sony in a blog post confirmed that the PlayStation Vue will shut down on January 30 and the company blamed the highly competitive pay-TV industry, with expensive content and network deals.” Sony, besides confirming the shutdown of the live TV service said that it will now focus on its core gaming business.
For a number of devices, including Roku (ROKU), Amazon (AMZN) Fire TV, Apple (AAPL) TV, and Sony’s own PlayStation consoles, the live TV service was available as an internet-connected app. For a few dozen channels and a DVR, the cheapest package started at $49.99 a month.
In 2015, Sony launched Vue along with a flood of other cord-cutter packages providing live TV coverage as consumers looking for cheaper cable or satellite alternatives. Of starters, the Sling of Dish Network, Hulu with Live TV, Google’s YouTube TV, and the formerly called DirecTV Now of AT&T (now known as AT&T TV Now) all launched within two years.
But the service of Sony has never been caught. Previously, research firm eMarketer reported that there were 800,000 subscribers to Vue. While Sling, with 2.4 million subscribers, is the most popular service with live TV.
Our news sources have reported that AT&T (T), which owns CNN parent company WarnerMedia recently confirmed the price hike. Following the price hike, the service lost 195,000 subscribers in the third quarter of this year. Ultimately, with the new changes in hand, AT&T lost 500,000 subscribers since the beginning of 2019.
Many customers still use old-fashioned cable and satellite instead of using the new streaming alternatives that the streaming competitors are offering. EMarketer reports that this year there are 86.5 million U.S. households with pay-TV, while those with a cord-cutter bundle are only 9.1 million.