October 28, 2021
Comcast Cable Oct. 28 reported it lost 382,000 legacy pay-TV subscribers in the third quarter (ended Sept. 30). That is up more than 50% from a sub loss of 253,000 during the previous-year period. Comcast ended the period with 17.8 million video subs, down from 19.2 million a year ago.
The declines reflect ongoing secular declines in pay-TV as consumers migrate to over-the-top video platforms such as Netflix, Hulu and Amazon Prime Video.
The nation’s largest cable operator has lost more than 1.1 million pay-TV subs in 2021 since Jan. 1, excluding the loss of 147,000 retail subscribers. That’s up from 1 million in the previous-year period.
On the positive side, Comcast is one of the biggest ISPs in the world — the lifeline for streaming video delivered into the home. The company added 281,000 high-speed internet subscribers, to end the period with 29.3 million subs. That’s up more than 5% from 27.8 million broadband subs last year. Comcast has another 2.3 million business broadband subscribers.