Comcast’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.