April 25, 2018
Comcast Cable April 25 said it lost 96,000 video subscribers in the fiscal first quarter (ended March 31), compared to adding 42,000 subs in the previous-year period. The cabler ended the period with 22.2 million video subs – down 288,000 subs from 22.5 million last year.
The decline underscores ongoing secular declines in pay-TV to alternative distribution channels as witnessed by Comcast shedding 151,000 video subs in 2017. The cabler gained 161,000 subs in 2016.
Meanwhile, Comcast added 379,000 high-speed Internet subscribers, which was down from 429,000 additions last year. The cabler ended the period with 26.2 million broadband subs compared to 25.1 million subs during the previous-year period.
Indeed, Comcast added more than 1.1 million high-speed Internet subscribers over the past year.
“Our steady increase in customer relationships continued, balanced with solid growth in [pre-tax earnings], reflecting momentum in our high-speed Internet and business services segments,” CEO Brian Roberts said in a statement.