Comcast reported today that it lost 96,000 net video subscribers in this year’s first quarter, compared to a gain of 42,000 in the 2017 first quarter.
Financial analysts had estimated the nation’s largest cable operator would lose around 75,000 video customers in the 2018 first quarter.
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While the first quarter decline is more evidence that the pay TV industry is increasingly having trouble keeping video customers, Comcast also showed a net gain of 379,000 Internet subscribers in the first quarter.
In the last year or so, cable and telco operators have been able to offset rising video losses with steady Broadband gains, thereby keeping profits up.
“Revenue for (Comcast’s cable unit) increased 3.6% to $13.5 billion in the first quarter of 2018, driven primarily by increases in high-speed Internet and business services revenue,” Comcast said today in a statement.
— Phillip Swann