Comcast lost 322,000 subscribers from its legacy cable TV business in the first quarter ended March 31, an improvement over the 427,000 subscribers lost in the same period last year. The segment, which includes Xfinity TV, ended the quarter with 10.95 million subscribers, down from 12.09 million a year prior. The company also narrowed its broadband subscriber losses to 65,000 from 183,000 a year ago.
Comcast is stemming the bleeding in its two foundational businesses. The rate of customer departure has decelerated year-over-year, with video losses improving by over 100,000 and broadband losses by nearly 120,000. This doesn't represent a reversal of cord-cutting, as the total subscriber base for both services is still down from a year ago. It indicates more effective management of the decline, which co-CEOs attribute to 'simpler, more transparent offers.' The key metric for Q2 will be whether broadband subscriptions can return to positive growth, not just a smaller loss.
Add StreamingMeme as a preferred source on Google to see more of our streaming news at the top of your Search results.
Add as preferred source