Bermuda Cord Cutting - 8% cord cutting in 2020

Based on published reports, 8% of Pay-TV customers evaporated in one year. It seems like a lot in such a short period. One Communications owns the Bermuda Pay-TV market and appears to be experiencing the most impact from cord-cutting.

The cord-cutting news has no direct impact on Bermuda advertisers. Bermuda does not offer direct cable TV advertising insertions. Bermuda Broadcasting, which operates CBS and ABC in Bermuda, offers advertising placement that will appear on basic cable and only on those channels. The island retains a third-party TV advertising model. The legal structure for Bermuda Pay-TV restricts local businesses from reaching key demographics with TV commercials like all other major TV markets — the USA, UK and Australia.

Cord Cutting Introduces Direct Digital TV Advertising

Cable cutting has given rise to TV adverting for local businesses over YouTube. That is the only platform that directly allows local placement to reach flat-screen TVs inside Bermuda homes. rdis now offers YouTube for any business that wants to target demos 18 - 64 on a wide array of TV programming.

The Bermuda Pay TV Market

One
2008 - CableVision - 17,500 subs
2013 - CableVision - 19,700
2019 - One (CableVision and Logic TV) - 13,500 subs
2020 - One - 12,100 subs

WOW - entered 2004
2004 - 0
2013 - 3,000
2019 - 1,300
2020 - 1,300

Digicel TV - entered 2017
2017 - 0
2019 - 1,600
2020 - 1,600

Bluewave TV - entered 2018
2018 - 0
2019 - less than 150
2020 - less than 150

Data Sources: Bermuda Regulatory Filings and News Reports