At a global level, pay TV appears to be in rude health. In the second quarter of 2015 the global pay TV market grew by 5.4m homes, but this top-line trend hides figures that give cause for concern at an individual country level and for the wider industry as a whole. Much of the growth in pay TV was driven by newer (and, business-wise, more challenging) emerging markets in Asia and Africa while peers in Western Europe and the Middle East suffered wide-spread declines in pay TV homes. Our figures show that, not only is the number of markets suffering cord-cutting increasing each quarter, but the platform mix driving cord-cutting is spreading beyond the cable industry, the traditional victim of cord-cutters.Cord-cutting (that is a net decline in the total pay TV market) occurred in 23 markets globally in Q2 2015. We take a look at which countries lost and which countries grew, as well as analyse which platforms are being hit hardest by the cord-cutting phenomenon.