Big 5 Virtual MVPD Subscribers Likely Close to 4.6 Million, MoffettNathanson Says

U.S. subscribers to the big five virtual MVPDs probably number close to 4.6 million, up 2.6 million from a year ago, MoffettNathanson analyst Craig Moffett wrote investors Thursday. Beyond those five -- YouTube TV, Hulu Live, Vue, DirecTV Now and Sling -- there's no way to estimate patrons of the "dozens of small fries" virtual MVPDs like Philo and fuboTV, he said. For Q4, the pay-TV industry's subscriber base declined 3.4 percent -- or 0.7 percent, if virtual MVPDs are included, he said.