Real Vision serves the youth market
Comcast (CMCSA) recently expanded the lineup of third-party video services its pay-TV customers can access through the Xfinity X1 platform. It added Real Vision, a youth-targeted financial and business video service, for $15 per month. Real Vision says its programming attracts young, affluent, and educated viewers.
Comcast keen to stabilize its pay-TV business
Comcast’s addition of Real Vision to its lineup of video services could be another attempt to stabilize its pay-TV business, which has been under immense pressure recently amid cord-cutting.
Comcast lost 371,000 pay-TV customers last year, according to Leichtman Research Group, including 29,000 in the fourth quarter. AT&T (T) lost more than 1.2 million customers through its satellite pay-TV service, DIRECTV, last year, while Dish Network (DISH), Charter Communications (CHTR), and Altice (ATUS) lost over 1.1 million, 244,000, and 98,000 pay-TV customers, respectively.
Legacy media companies are losing customers as households drop traditional television packages in favor of typically cheaper and more flexible digital entertainment options such as Netflix and Hulu.
Comcast seeking to connect with younger audiences
Comcast’s programming partnership with Real Vision fits into its efforts to reach younger people and build its customer base. Earlier this year, Comcast struck up a content partnership with Acorns, a financial technology startup.