There has recently been talk that cord cutting may be slowing down, but Comcast disagrees. Yesterday Comcast during its 4th quarter earnings call they warned investors that cord cutting will speed up in 2020 and expects video subscriber losses to accelerate throughout the year.
Comcast lost 732,000 TV subscribers in 2019. If that continues and grows Comcast could easily see subscriber losses top 1 million subscribers in 2020.
In 2018, Comcast lost 1.6% of its TV customers. In 2019, Comcast lost 3.2% of its TV customers. At this rate, we could be looking at Comcast losing 5% or more of its subscribers in 2020.
Comcast did also state that TV prices are expected to go up in 2020. Not a shock as Comcast has raised TV prices again in 2020 just a few months after announcing the last round of price hikes. For now, Comcast has not said when or by how much prices will increase, but Comcast has confirmed it will happen in 2020.
To address this change, Comcast’s CEO Brain Roberts said, “We needed to pivot the whole company to the streaming world and I think what’s exciting is how well our cable company has done that. Peacock will go right back for the advertisers and get you in a growing market, taking advantage of streaming with a free product as well.”
The question now is will Peacock slow down the bleeding Comcast is feeling as subscribers jump ship for cheaper ways to watch TV. Also, what happens when Comcast faces real competition with home Internet and subscribers start to leave Comcast Internet for cheaper options…
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