This might be true if cable companies did not make a profit.

In the US, at least, I think the lack of competition (almost monopoly pricing in most areas) has led to exactly the opposite situation - plenty of profits for the cable providers.

Do you have evidence for the claim that the monthly fees are not enough to cover the cost of providing the service?

I tried to find numbers but couldn’t, so I’m left with a macroeconomic argument. Better details would be welcome.