Verizon: Cable in denial on cord cutting

Verizon Communications chairman and CEO Ivan Seidenberg said he sees parallels between the onset of declining cable TV subscriptions and consumers cutting their phone company landlines.
“Cable is probably starting to experience what we experienced five to six years ago (with voice lines), which is the low end is disappearing into other alternatives,” said Seidenberg, speaking to investors in New York. “The first thing when that happens is, you deny it. I know the drill. I’ve been there.”

Added Seidenberg, “Young people are pretty smart. They’re not going to pay for something you don’t have to pay for. You’ve got to watch the market… Over-the-top is going to be a pretty big issue for cable.”

Meanwhile, at the CTAM cable marketing summit in Europe cablers have urged programme channels not to disrupt existing distribution business models while predicting many will inevitably try.

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