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AT&T pins brutal DirecTV Now subs loss on promotional changes

Although virtually unrecognizable from each other today as technology businesses, AT&T made Verizon’s video losses look insignificant as not only did 403,000 subscribers scrap their DirecTV satellite subscriptions during the fourth quarter, but 267,000 fled the DirecTV Now streaming service. A disastrous end to the year for AT&T and an ominous omen for the operator’s impending HBO-fronted Netflix rival due to launch later this year. It’s the second surprise kick in the teeth, after last week’s logic-less revelation by Disney of Hulu’s huge $469 million operating loss for the year despite a 48% increase in subscribers, prompting similar concerns around the launch of the Disney+ streaming service later this year. DirecTV Now, at a little over two years old, sunk…

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