Comcast Lost 1.52 Million Video Subs Through September as Broadband Growth Stalls
October 27, 2022
Comcast Cable continues to lose pay-TV subscribers in bunches. The nation’s No. 1 pay-TV operator said it lost 540,000 subs in the third quarter (ended Sept. 30). That’s up more than 40% from a loss of 383,000 subs in the previous-year period. Through nine months of the fiscal year, Comcast has shed more than 1.52 million video subs, up more than 32% from a loss of 1.15 million in fiscal 2021.
The cabler ended the period with 16.6 million subscribers, down 11% from 18.5 million subs in 2021.
Meanwhile, Comcast, like other pay-TV operators, continues to offset video subscriber losses with gains in high-speed, or broadband customers. That trend slowed significantly in the quarter as Comcast added just 10,000 residential broadband subs compared with 281,000 subs in the previous-year period. The company added 5,000 business subscribers, down from 19,000 last year.
From January through September, Comcast added 253,000 residential broadband subs and 24,000 business subs. That’s down significantly compared with the addition of more than 1 million residential subs and 54,000 business customers in the same period a year earlier.
The company ended the quarter with more than 32.1 million broadband subs, up 1.5% from 31.6 million in 2021.
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