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 149,000 residential video subscribers in the 4th quarter 2019 with its Xfinity TV service. This comes as Comcast just lost 238,000 TV subscribers in the 3rd quarter of 2019.
Overall though Comcast’s revenue increased 2% to $28.4 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.
Comcast also saw a jump of 442,000 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 Sling. It will be interesting to see how Comcast moves to address this ever-changing market.
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