Comcast Loses 33k Video Customers, but Gains $350k Internet Subs

comcast-xfinity-logoComcast’s Q4 report shows a loss of 33,000 video subscribers, a clear sign that media consumers are moving towards internet-delivered programming rather than traditional cable and satellite TV platforms. Comcast isn’t alone, as Verizon also reported a loss of approximately 29,000 video subscribers in Q4.

However, the Comcast did gain 350,000 high-speed internet customers during the same quarter, which, although a bit less than reported in Q4 2016, exceeded analyst expectations.

Their film division, NBCUniversal, showed tremendous growth, highlighted by holiday box office earnings of $5B. The company also showed growth in their Xfinity Mobile service, ending 2017 with 380,000 subscribers.

Comcast announced plans to repurchase at least $5 billion in stock, and increase its dividend by 21%

Comcast is one of the largest multi-service providers in the US, with 29.3 million subscribers reported in the company’s latest filing.

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