Comcast Loses 117,000 Video Subs in Third Quarter26 Oct, 2012 By: Erik Gruenwedel
Cable operator has narrowed video sub losses 25% year-to-date
Comcast Corp. Oct. 26 said it lost 117,000 video subscribers in the third quarter (ended Sept. 30), which was 29% less than the 165,000 video subs lost during the previous-year period.
Indeed, the No. 1 cable operator has stanched video sub bleeding somewhat with 330,000 subs lost through the first three quarters of the year compared with 442,000 net video subscriber declines through the same period last year.
The declines generally reflect ongoing economic pressures on households as well as increased competition from alternative video sources such as subscription video-on-demand services Netflix, Hulu and Amazon Prime Instant Video.
Video revenue, which includes transactional video-on-demand and premium channels, increased 2.7% to $5 billion from $4.9 billion last year. The average video subscriber’s monthly bill was $150.87, up 8.7% from last year due in large part to increased Internet, telecommunication services and rate hikes.
Comcast ended the quarter with 11.3 million high-definition (HD) and/or DVR customers, equal to 54% of its 21 million digital customers.