Pay-TV companies have been responding to cord-cutters the best they can. While many customers are still ditching their video packages, others are simply opting for smaller and less expensive bundles of networks. These skinny bundles can have even more detrimental effects on media companies, as subscriber losses for some networks drastically outnumber the number of people cutting ties with cable altogether.
By far the two biggest losers from cord-cutting and cord-shaving are Disney's (NYSE: DIS) ESPN and Viacom's (NASDAQ: VIA) family of networks. ESPN and ESPN2 are both in the top five networks with the most subscriber losses between 2011 and 2015, according to Ampere Analysis. Meanwhile, Viacom owns five of the top 10 subscriber losers.