As global markets reel from a brutal selloff followed by a stunning rally, one sector has been battling a home-grown rout of its own over the last month: the cable and media industry, which was rocked early August by comments from Disney CEO Bob Iger about lower subscribers.
The industry has been grappling with years of "cord cutting" - consumers, especially young people, cancelling or not even subscribing to traditional cable bundles and simply choosing their TV experience "a la carte," whether that's via Netflix, Hulu or Amazon Prime.
Additionally, the new trend of "skinny bundles" has emerged, which threaten make the "big bundles" -- which have proven so profitable for incumbents -- obsolete.
Analysts at Morgan Stanley warned: "Cord cutting is real. The only silver lining is that the market is now fully aware."