October 24, 2019
Comcast Cable Oct. 24 reported it lost 238,000 video subscribers in the third quarter ended Sept. 30. The company lost 95,000 video subs in the previous-year period.
The cable operator, along with other traditional linear TV distributors, continues to face secular challenges as consumers migrate away from the traditional cable programming package.
For the nine-months of the fiscal year thus far, the cabler has jettisoned more than 550,000 video subs, compared to 325,000 subs during the same period last year.
As a result of growing OTT consumption, Comcast Corp. unit NBC Universal is launching branded SVOD service, Peacock, early next year.
Comcast added 379,000 high-speed Internet subscribers, up 13.4% from 334,000 net broadband additions in the previous-year period. The uptick in broadband subs didn’t go unnoticed at the corporate level.
“Cable had its highest third quarter broadband net additions in 10 years, which drove its best quarterly net additions in total customer relationships on record,” chairman/CEO Brian Roberts said in a statement.