Comcast Lost 1.5 Million Cable Subscribers in 2021
January 27, 2022
Comcast Cable Jan. 27 reported a loss of 1.49 million pay-TV subscribers in the fiscal year ended Dec. 31, 2021. That compared with a subscriber loss of 1.29 million in 2020. The cabler lost 349,000 subs in the fourth quarter, up 53% from a sub loss of 227,000 in the previous-year period. Comcast ended 2021 with 17.5 million pay-TV subs, down from 18.9 million in 2020.
On the flipside, Comcast continues to grow its high-speed internet market share, ending the year with 29.5 million broadband subscribers. That’s up 4.4% from 28.3 million subs in 2020. Broadband is a requisite conduit to distribute streaming video in subscriber households.
For the year, cable revenue increased 7.1% compared to 2020 to $64.3 billion, driven by growth in broadband, wireless, business services, advertising, video and other revenue, partially offset by a decrease in voice (i.e., telecom) revenue.
“Our top priority is increasing the capacity of our network in the U.S. and further improving our world-class broadband experience,” Comcast chairman/CEO Brian Roberts said in a statement. “[Our] strong operating and financial performance in 2021 was underscored by our highest full-year revenue, [pre-tax earnings] and free cash flow on record. We continue to execute extraordinarily well, strengthening our leadership position in connectivity, aggregation, and streaming.”