New features of the X1 video platform
To avoid video subscriber loss, media conglomerate Comcast (CMCSA) continues to enhance its popular X1 platform by adding new features.
The graph above shows Comcast’s video revenue over the last five quarters. The company has enhanced the X1 platform with its Emmy-winning XFINITY X1 Voice Remote. Netflix (NFLX) and YouTube (GOOGL) are also included in the platform. To boost its TV Everywhere service, Comcast has also added its XFINITY Stream app to the platform.
Footprint expansion for the X1 video platform
Comcast is expanding its footprint in Canadian markets as well. After entering into licensing agreements for its X1 video platform with Canada’s top carriers, Rogers Communications (RCI) and Shaw Communications (SJR), Comcast included Videotron. These companies sidelined their IPTV (Internet Protocol television) applications and adopted Comcast’s cloud-based X1 video platform.
Such popular features, coupled with market expansion, may not only offset video subscriber loss for Comcast but drive revenue as well. In 3Q17, the company’s cable revenue rose 5.1% on an annualized basis, and its video revenue grew 4.2%. To date, 57% of Comcast’s residential video customers’ homes have access to its X1 platform, compared with 45% last year.