Comcast reported its second quarter numbers today, and announced a loss of 144,000 video subscribers. The company managed to spin the loss by pointing out that it had shed 162,000 subscribers during the same period last year.
Comcast celebrated the slowing subscriber decline as the “best result for a second quarter in six years.
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” The company is continuing to lose subscribers as consumers “cut the cable cord” and receive their media through alternative, web-based sources.
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The company’s CEO, Brian Roberts, seems to embrace the changing video landscape and the fact that his company is providing Netflix service to the very customers who are cutting the cord. Said Roberts:
“And it sort of for me validates the changing and dynamic nature of the market that we are living in, the technological changes, the consumer behavior changes that are happening at very fast speeds,”
How long do you think it will be before the old-fashioned cable model of bundled channels at high rates will be completely obsolete?
[via Home Media Magazine]
Maybe in the future, it will be bundling TV channels as a LOSS LEADER to disguise every rising ISP fees.
Comcrap can care less. They will just up the price on everything to make up for it…
And by the end of the year they will have taken over Time Warner.
They really don’t care.
Just like the FCC joke that is going on now.
You really think the FCC cares what the people think? Ha!
When did the Government care what the people think.
Comcast will get Time Warner. And the fun will start..
Cable companies are like any other media source out there, including newspapers and dvds. They may be losing customers, but they will all be around for years to come, because not everyone is so quick to adapt to change. If you look at newspapers for example, our local paper was at 160,000 subscribers just 10 years ago when the Internet really started being a place for people to get news. Over the years, they have shed customers every quarter, every year, as more people get their news from online and from their phone and tv. As it stands today, they are at 116,000 subscribers. The price has gone up from 50 cents, to 75 cents to $1.00 now. So as they lose subscribers, their price increases and their profit remains the same or even higher. This will be how dvd companies and cable companies survive subscriber loss long term. For cable companies, I imagine internet will rise, probably a tier based system depending on usage, while cable tv drops to try and keep people hooked up to that service. For dvd companies such as redbox, I can see a price increase being justified, even if they do a modest 10 cent/disc increase, it will offset any loss in customers .
Interesting anecdote for you.
We are moving and Comcast controls the cable in the town. We cut the cord with Cox 2 years ago and I planned on keeping it that way with Comcast.
First Year Internet without Cable: $60
First Year Internet + Cable: $60
2nd year Internet without Cable: $77
2nd year Internet + Cable: $70
That’s right. The first year cable is essentially free since it’s the same price as the Internet. After the first year, it’s more expensive to drop cable than it is to keep it. That’s how they’re keeping their numbers up – but making it more expensive to drop it.
Cable will be great when you can build your own package. But then it’ll be raining cats and dogs, too.