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 224,000 residential video subscribers in the 2nd quarter 2019 with its Xfinity TV service. This comes as AT&T announced yesterday that it lost 778,000 TV subscribers in the 2nd quarter of 2019. Combined AT&T and Comcast lost just over 1 million TV customers in the 2nd quarter of 2019.
Right now Comcast and AT&T are losing over 11,010 subscribers every single day. If this continues AT&T and Comcast will lose 4 million subscribers over the next year. Even with these losses Comcast saw cable revenue up 3.9% to $14.5 billion.
Comcast also saw a jump of 209,000 high-speed Internet customers. 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. It will be interesting to see how Comcast moves to address this ever-changing market.
Comcast did also add 181,000 wireless phone customers in the 2nd quarter of 2019.
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