Acquisition of Stringify
To boost its home automation concept, leading cable and media conglomerate Comcast (CMCSA) is continuing to expand its operations by signing new deals, making acquisitions, and launching advanced products and services.
In September 2017, the company bought a startup company called Stringify, which offers a cloud-powered automation service for more than 500 IoT (Internet of Things) products and digital services. Such initiatives undertaken by the company may drive its number of cable subscribers going forward.
In the graph above, we can see the growth in Comcast’s number of cable customers over the last five quarters. The company has maintained a stable growth rate during the period.
With the addition of Stringify’s technology to Xfinity’s products and services, Comcast’s customers can easily control different devices at home, including popular brands such as Carrier, General Electric (GE), Honeywell International (HON), Danalock, and SkyBell, for no extra cost.
Expanding service scope
In August 2017, Comcast also struck a deal with the leading US residential solar power operator, Sunrun (RUN).
In a bid to strengthen its smart home market share, Comcast has made its home automation features available across its entire Xfinity services product portfolio, including Xfinity TV and mobile. This move may allow more than 15 million Xfinity users to gain access to digital home applications.
The availability of high-speed Internet coupled with the company’s aggressive deployment of the DOCSIS 3.1 broadband network (which delivers 1 gigabyte per second of speed) could continue to support the adoption of smart home devices.
In 3Q17, the company’s net addition of high-speed Internet and security and automation customers on a combined basis stood at 265,000 compared to 408,000 in the previous year quarter. The enhancement of its services may continue to drive subscriber growth for Comcast.