Although cord-cutting as an idea is one that has become decidedly fashionable of late, the actual tidal wave of consumers throwing out their cable boxes and receiving their video entertainment elsewhere (Sling, Sony’s Vue, Apple’s upcoming video service) has not occurred, and may never come to pass. At least, that’s what well-known media analyst Craig Moffett maintains. In a recent report, Moffett, writing for his own research firm, posits that “the market has quickly come to a consensus that these services will be only a blip for traditional pay-TV. Our own base case forecast reflects a similar view; we expect a continuation of the slow and steady drip, drip, drip of cord cutting that has left pay-TV subscribership essentially flat despite steady growth in new household formation.”

It may not matter anyway, particularly to those who have invested in cable companies. Whether or not cord-cutting overtakes the nation, big cable has transformed away from a dependence on video services, as a result from a decade of battling IPTV competition, and become more utility-like. As Moffett concludes: “We have argued for at least a decade that cable companies should be thought of as infrastructure providers, not media companies.”

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