July 25, 2019
The pay-TV industry appears to be on course to set a new record for video subscriber losses in a fiscal quarter.
The day after AT&T reported substantial (950,000!) video sub losses, Comcast Cable did its part to underscore ongoing carnage within the industry.
The nation’s No. 1 cable operator July 25 reported it lost 209,000 residential video subs in the second quarter, ended June 30. That compared to a loss of 136,000 video subs in the previous-year period.
When factoring in business subscribers, Comcast lost 224,000 total video subs, which was up 60% from a loss of 140,000 subs last year.
Comcast ended the period with 20.6 million video subs, down 432,000 subs from the previous-year period.
As if to put an exclamation point on consumer migration to over-the-top video distribution, Comcast said it added 182,000 residential high-speed Internet connections. That was still down almost 20% from the addition of 226,000 broadband subs in the same period last year.
Comcast ended the quarter with more than 25 million broadband subs, which is up almost 5% from 24.4 million subs a year ago.
Comcast Corp. CEO Brian Roberts took the high road on the video subscriber losses, highlighting instead the company’s 55 million “high-value” direct customer relationshipsand adjusted fiscal growth throughout various business segments, including video.
“Our teams throughout the company continue to collaborate to make themselves and each other even stronger, and I’m excited about our growth opportunities ahead,” Roberts said in a statement.