Comcast Lost 491,000 Pay TV Customers in Q1 2021

In Comcast’s Q1 earnings report released Thursday morning, the company reported a 491,000 video customer loss. That number includes 404,000 residential customers and 87,000 business customers. The company added 461,000 broadband customers for the quarter.

While customer numbers were down, cable revenue was up for the quarter, due to increasing rates. Video revenue reached $5.623 billion for the quarter, a 0.2% increase year over year.

“We are off to a great start in 2021. Our entire company performed well across the board, highlighted by another strong performance from cable, which posted its third consecutive quarter of double-digit Adjusted EBITDA growth, while adding the most quarterly customer relationships in our company’s history,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation in the news release Thursday morning.