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27 Apr

Comcast® Shifts Focus to Internet Following Q1 Results on Cable Subs

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Comcast Cable® officials recently reported that they experienced a significant loss in the number of video subscribers as of this year’s first quarter. As per reports, this decline in Comcast® video subs is 96,000 as of Q1 of 2018. However, being one of the best internet providers in the US, Comcast® has also achieved more than 350,000 high-speed internet subscribers during the same period.

This only goes to indicate the Philadelphia-based Telco giant’s role in nationwide markets of being an internet service provider that bundles cable TV packages and best internet plans. Slowly but surely, Comcast® treats internet as the core competency of their overall service portfolio to stay competitive in a market that is shifting toward streaming services. In other words, more and more customers are choosing internet to stream online channels on Comcast Xfinity® TV. Besides, their home security and Xfinity Mobile® offerings also serve as adds to their product portfolio.

To retain customers and drive sales, Comcast® sales reps are now pitching broadband packages first, and then, the company’s other offerings such as cable TV. “Our focus is very much centered on broadband,” said Dave Watson, who is the President and Chief Executive Officer of Comcast Cable®.

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This focus of Comcast® on internet offerings may seem surprising even at a time when the company has made a billion dollar bid, which is $31bn as per reports, to acquire Pay-TV broadcaster Sky plc. Comcast Corporation®, the parent company of Comcast Cable®, is surely trying everything it can to improve byline profits through broadband offerings even as their actions may seem to the contrary.

Trade analysts say that selling broadband would seem much profitable to Comcast® than selling cable TV packages, for which profit margins are thinner in comparison owing to programming costs. No wonder Comcast® is looking to acquire what is often billed as the largest satellite broadcaster in the UK namely Sky plc. In fact, Comcast® is not alone in bidding for the broadcaster – even Walt Disney Company and 21st Century Fox Inc. join them in the bidding process. The board members of Sky plc welcomed the Comcast® bid and withdrew a suggestion that shareholders have accepted an earlier proposal from 21st Century Fox.

Despite trying to cement their status of being one of the top internet providers, Comcast® also sees an opportunity in the form of wireless subscriber growth. It has added 196,000 subscriber lines to Xfinity Mobile® service in Q4, bringing its aggregate to 577,000 lines.

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