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It Looks Like Cord Cutting Is Taking a Large Bite Out of Comcast


Next week Comcast will officially report their subscriber numbers for the third quarter 2017. Although we are a few days away from the announcement, Comcast is already trying to soften the blow by warning investors of a bad report to come.

The Executive Vice President for Comcast Xfinity Services said that the company expects to report losses of 100,000 to 150,000 video subscribers in the third quarter 2017. That is a massive swing of subscribers because just one year ago in the third quarter of 2016 Comcast added 149,000 video subscribers.

Now the loss in subscribers may not immediately show up in their revenue reports. Comcast’s cable TV business now only accounts for about 30% of the company’s revenues. Increasingly Comcast has been diversifying in an effort to offset the inevitable growth of cord cutting.

Comcast has a plan to offset the losses to cord cutting: launching a live TV streaming service. This new service will let Comcast Internet customers get a TV package streamed to them. Still in beta, the live TV streaming service will reportedly be rolled out to all the markets they offer inside their current footprint.

We will have to wait and see what the official numbers look like, but from what Comcast is already saying these numbers likely took a heavy hit from cord cutting.

Source: Forbes

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  • Good..

  • Robert Frankenfield

    We’ve all seen this coming…

  • JGaLaXY

    loving it

  • Jeff Edsell

    Good. Cable providers, Comcast in particular, have gotten away with jacking up prices and terrible customer service for far too long, knowing that they were either the only game in town, or that their competitors were no better. Now there are real options, and many of those options get cheaper and more accessible every day.

    It will be very interesting to see what Comcast does next — improve, or bury their heads in the sand and eventually fail.

    • Vegas Steve

      I’m betting on the bury part. Hopefully it will bury them.

  • Andrew Lindeman

    I love it too! Between the add-on fees for “broadcast”, “regional sports” etc. and then the huge cable box rental fees, Comcast and the others deserve what they get. I had 3 cable boxes over a 21 year period. I bet I paid for for those cable boxes 40 times over. I have a (unproven!) theory that Comcast gathered the money to buy NBC Universal purely on “cable box rental” fees. After a year, those rental fees are pure profit for the the cable companies.

    I went with a Windows Media Center system with 4 extenders for about six years to cut down on my cable co hardware rental fees. It paid for itself several times over- but it wasn’t a solution that would work for most- I had to deal with lots of issues. I know Tivo is another solution- but I wanted to stay away from monthly fees…

    • David Batten

      For the OTA go with an HD Homerun or similar. $40 per year for the guide data vs $180 with TIVO. My up front cost of $150 for the 4 tuner version and the year of guide data was less than one year of TIVO. Plus, now everything is controlled by my Android TV’s

    • Robert Frankenfield

      I believe Tivo has an option to outright buy and not pay a monthly subscription. I recall looking into it a year or so ago and it cost around $300 to get out from under the monthly fees. Better to pay that then the $15 or so monthly fees to Tivo.

    • Fred Koot

      Hdhomerun, dvr fee is $35 year

  • lonnie

    Yep, I am one of them. I cut their tv service last month and only get internet with them to use for my sling tv which I love. I got an air tv player and merged my OTA channels with sling and now get over 60 channels for 20 a month and couldn’t be happier. Next week I am moving and plan on getting Fios for my internet, so goodbye altogether to Comcast!

  • TV Barrington

    Since cord-cutters tend to keep their internet, and based on how Comcast appears to extremely greedy, while having no regard for their customers, I can’t help but feel that Comcast has a plan to offset their losses to cord cutting by steadily increasing a customer’s monthly internet bill. Comcast has to answer to their stock holders, and stock holders care about financial losses, but typically don’t care how those losses are made back up. Comcast has squeezed their customers so hard with cable prices, that they are beginning to see that well now dry up, so they will see that people will still love their internet and will probably just squeeze even harder within that particular area. Perhaps Comcast hopes to have another very expensive service in place to help drain customers before someone figures out how to deliver a reliable high speed internet and siphons away their cash cow again.

    • craig2web

      They can threaten to raise their internet rates, but most customers have other alternatives they can turn to like DSL, mobile data, satellite internet, etc. So raising their rates could end up meaning losing those customers altogether – not something they really want to do.

    • Robert Frankenfield

      As time goes by, more ISP’s are becoming available. Especially in Cities, there are lots of internet options. For the suburbs, you’re pretty limited. It would still be a lose lose for Comcast and their likes to hike up internet prices since more subscribers live in Cities. Although expansion to the suburbs is a slow expensive process. However, it is slowly becoming available. Look at Google’s service expanding in the Midwest.

    • Nathan John Ganiere

      even if they did raise internet slightly doubt if most would feel the pinch compared to what they saving anyhow for cutting the cord………..

  • tbird2252

    FWIW, Disney is looking for a potential sale of ABC. Further deterioration to Comcast bottom line and NBC could be next…

  • REP

    If there is one company that need to fail is the greedy Comcast.

    • Charter Spectrum as well. The worst service ever.

  • Nathan John Ganiere

    I love these articles bring more of them, it’s music to my ears seeing all these traditional tv services struggle……

    • Robert Frankenfield

      I agree since Comcast has been gouging people for years. Time for them to feel the pinch.

  • Celtics_Junkie

    I’m a big supporter of capitalism and I don’t wish bad on any business…except Comcast. Screw them.

    • Arthur Minto

      Comcastmustdie.com

  • Mike Thaler

    We cut our Comcast cord the 2nd week of the 3rd quarter.

  • icwhatudidthere

    This is proof positive that the claims that competition existed prior to streaming were nothing more than lies.

  • ChuckD

    Awesome!! I had Comcast TV/Internet for the yearly promotion price. Once the year was up my bill almost doubled so I turned off the TV service and used their internet to stream DirecTV Now. Then later I noticed that AT&T was offering internet for $40 with no rental equipment fee, this was a no-brainer for me – lol. I recently switched to AT&T internet for 40 and DirectTV Now for $35 and I am loving it – lol. So the Comcast name isn’t enough in todays market. People are looking at the prices so bring on the competition.