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Why Comcast Is Focusing on Broadband Customers

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Jun. 17 2019, Published 3:03 p.m. ET

Comcast’s broadband customers 

Cable giant Comcast (CMCSA) has shifted its focus to high-speed Internet, where it is gaining traction amid pay-TV decline. Comcast lost 107,000 residential video customers and 121,000 video customers in Q1 2019.

In the first quarter of 2019, Comcast’s high-speed Internet revenue grew 10.1% YoY (year-over-year), driven by a net addition of 375,000 high-speed internet customers, which comprised 352,000 high-speed residential Internet additions and 23,000 high-speed business Internet additions.

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Pay-TV companies losing residential video customers

Companies have been struggling to maintain their US pay-TV subscriber base as they face cord-cutting. In the first quarter, US wireless mobile carriers Verizon and AT&T lost more than analysts expected—AT&T lost 544,000 premium TV subscribers (including DIRECTV and U-verse customers), while Verizon lost 53,000 Fios video customers. Telecom peer Frontier lost 54,000 customers in Q1 2019, cable giant Dish Network lost 259,000 pay-TV subscribers, and Charter lost 145,000 total video customers.

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