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 134,000 residential video subscribers in the 3rd quarter 2017.
The bad news does not stop there as NBCUniversal also saw a 12.7% drop in revenue. That lead a total drop in revenue of 1.6% across the board to $20.98 billion. Yet it is not all bad news as Comcast saw strong growth in their theme park wing and they had a huge hit with Despicable Me 3 content licensing.
Comcast also saw a jump of 214,000 high-speed Internet customers helped drive a 5.1% gain in revenue to $13.2 billion. As Comcast subscriber base continues to slowly move to internet only subscribers.
Comcast is facing strong headwinds in their traditional pay TV market. With a growing field of live TV services including new entries from Hulu, YouTube TV, and DIRECTV NOW. To address this growing market shift Comcast is also launching their own live TV streaming service called Instant TV. Currently only available in select markets Comcast says they are working hard to roll out to all of their internet-only subscribers soon.
Need cord cutting tech support? Join our new Cord Cutting Tech Support Facebook Group for help.