For years Comcast has been the largest cable TV company in the United States. Now Spectrum is king: the new largest cable TV company in the country.
Spectrum’s jump to the number one spot was achieved by not losing as many customers as Comcast.
Spectrum lost more than 1,018,000 million TV customers in 2023. That is about 2,800 customers canceling cable TV every single day. This includes 241,000 lost in the 1st quarter, 200,000 lost in the 2nd quarter, 300,000 lost in the 3rd quarter, and 257,000 lost in the 4th quarter to end the year.
Comcast lost 2,036,000 cable TV customers and 38,676 Internet subscribers in 2023. Comcast started 2023 adding more than 32,000 new Internet subscribers but lost subscribers each of the remaining three quarters. On average, Comcast lost more than 5,500 TV customers every single day in 2023.
Spectrum becoming the largest cable TV company in the United States is a good PR win but doesn’t mean much because both companies are losing TV and Internet customers. This includes Spectrum losing Internet customers for the first time in a very long time in the 4th quarter of 2023.
The question now is can Spectrum maintain this lead or will raising prices twice in the last year and dropping channels like FXX and Freeform from Disney have a long-term negative impact on the company’s TV subscribers.