Today Comcast announced their 3rd quarter 2019 earnings report that showed they lost 224,000 TV subscribers. During the earnings call, Comcast executives were very quick to dismiss these numbers as a senior Comcast executive said if TV customers are not profitable, they plan to push them over to the internet only.
It seems that Comcast is following AT&T’s strategy in pushing low-profit customers that are looking for the cheapest plans possible off of their TV services. It seems the days of cable and satellite services fight to offer cheap packages to keep budget-minded customers subscribed are coming to an end. Long gone are the days that Comcast would use TV to get customers to subscribe to higher profit internet, phone, security, and now wireless plans.
This news comes after we have learned that Comcast is losing over 2,586 TV subscribers every single day. If this continues, Comcast will lose 943,890 million subscribers over the next year. AT&T is expected to report over a million TV subscribers canceled in the 3rd quarter of 2019. That would work out to over 10,000 TV subscribers lost every single day from DIRECTV, AT&T TV NOW, and U-verse TV.
From the looks of it, traditional pay-TV operators want cable TV to become a more premium experience instead of a service that chases after customers looking for cheap TV. The question now is how far will that trend go.
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