Well, it looks like the bad news for cable TV keeps flooding in as once again a major provider is reporting a drop in pay-TV subscribers. This time the drop comes from Comcast who today reported losing 238,000 residential video subscribers in the 2nd quarter 2019 with its Xfinity TV service. This comes as Comcast just lost 224,000 TV subscribers in the 2nd quarter of 2019. This is a dramatic shift from 2018 when Comcast added 22,015 TV customers in the 3rd quarter.
Overall though Comcast’s cable revenue increased 4% to $43.3 billion compared to 2018. Comcast says this growth came from high-speed internet, business services, wireless and other revenue. Comcast did see advertising, video, and voice revenue fall in the 3rd quarter of 2019.
Right now Comcast is losing over 2,586 TV subscribers every single day. If this continues Comcast will lose 943,890 subscribers over the next year.
Comcast also saw a jump of 379,000 high-speed Internet customers. Comcast is facing strong headwinds in its traditional pay-TV market. With a growing field of live TV services including new entries from Hulu, YouTube TV, and DIRECTV NOW. It will be interesting to see how Comcast moves to address this ever-changing market.
Comcast did see wireless phone customers go up by 204,000 helping offset the loss of cable TV subscribers.
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