Comcast chief financial officer Michael Cavanagh says that they expect a similar loss of TV subscibers in the second quarter of this year as in the first (~ 400,000):
Comcast sees more runway for broadband growth as pay-TV losses mount
By Jeff Baumgartner, Light Reading - June 17, 2020
https://www.lightreading.com/cable-video/comcast-sees-more-runway-for-broadband-growth-as-pay-tv-losses-mount/d/d-id/761780quote:Comcast expects steep video losses to continue in a second quarter marked by the pandemic, but likewise believes it still has plenty of headroom left to expand its broadband base and its core "connectivity" business.
That's the general situation at the cable unit, according to Comcast CFO Mike Cavanaugh, who provided an update during a Credit Suisse conference that was hosted online.
In Q1 2020, a period partly impacted by the pandemic, Comcast raked in a massive total of 470,000 broadband customers (including 466,000 on the residential side). But it also suffered sizable video sub losses of 409,000, a big jump from a loss of 121,000 subs a year earlier.
Cavanagh noted that Comcast's video business was also impacted by a price increase in Q1. But he said the MSO still expects to see similar losses in Q2 even as it keeps playing up the value of a bundle that links together pay-TV and broadband connections that can access a broad array of streaming services. At the same time, Comcast is also continuing to push Xfinity Flex, a video streaming/smart home service that's being offered for no added cost to broadband-only customers.
"We're not wedded to being necessarily the seller of a bundle to you in video, but we would very much, if you appreciate either one of our alternatives, a bundle with X1 or a platform approach for video navigation aggregation through Flex," Cavanaugh said. "But we're not going to subsidize … broadband profitability." ...Also see:
Comcast CFO Expects Continued Q2 Video Customer Losses
Cavanagh said connectivity is the focus
By Mike Farrell, Multichannel News - June 17, 2020
https://www.multichannel.com/news/comcast-cfo-expects-continued-q2-video-customer-losses
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