Comcast’s legacy cable pay-TV business saw 389,000 subscribers drop video service in the fourth quarter, ended Dec. 31, 2023. While the sub loss was lower than the 440,000 subs lost in the previous-year period, the loss continues a trend of more than 2 million subs annually dropping pay-TV service.
Comcast ended the year with 14.1 million pay-TV subscribers, down from 16.14 million subs at the end of 2022, and 18.17 million subs at the end of 2021.
The nation’s last broadband provider reported a net loss of 34,000 high-speed internet subscribers, up from a loss of 23,000 subs in the previous-year period. For the fiscal year, Comcast lost 66,000 broadband subs, compared with a gain of 243,000 subs in 2022.
Comcast ended 2023 with 32.25 million high-speed internet subs, down from 32.31 million at the end of 2022.
Regardless of the sub losses, Comcast president Michael Cavanagh said the company’s legacy cable business, in addition to Xfinity streaming platforms and broadband reach remain a competitive advantage for both original and third-party licensed content.
“We’ve seen a lot of collaboration with players that want to reach the kind of consumers we have through broadband and video,” Cavanagh said.