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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