As Americans cut the cord, Europeans sign up for more pay-TV

THE BIGGESTTVTV television drama of the past decade has been the story of how people watch it. Ten years ago nearly nine out of ten American households subscribed to cable or satellite. Today little more than half do. The collapse of pay-, amid the advance of online streaming, has upended the television industry and forced Hollywood giants like Disney to rethink their business model. And the pace at which consumers are “cutting the cord” from cable providers is only increasing.But not everywhere. On the other side of the Atlantic, cord-cutters are outnumbered by cord-knotters. As Americans tear up their contracts, Europeans are signing up for cable and satellite in greater numbers than ever. Pay- penetration in Britain will overtake that in America this year, according to Ampere Analysis, a research firm. In France and Germany it already has (see chart).