Comcast have disclosed that they lost 400,000 subscribers in a Q1 earnings call. These subscribers include residential and business customers. They have lost that within the last quarter.
The Comcast chief financial officer Michael Cavanagh has spoken about the losses. He has been sincere and even admitted that the losses are expected to continue into the second quarter. At the Credit Suisse Virtual Conference, he said that Comcast has no plans to make changes to their video service or broadband service, according to Multichannel.
“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. We’d love to be involved in video, but we’re not going to subsidize.”
The Q1 didn’t come as a shock to many, though. Many analysts had predicted a loss for not only Comcast but many other providers this year.
Bernstein analyst Peter Supino predicted an estimated loss of 1.67 million subscribers for Comcast in 2020. He predicted 1.08 million losses for Charter, 230,000 losses for Altice and 2.2 million losses for AT&T, and 695,000 for Dish.
Dish do not seem to be too affected by the drop in subscribers. The company are setting their eyes on broadband and the expected success of Peacock. This launched for Comcast subscribers on April 15 and will launch all over the world on July 15. Comcast as “pivoted the focus to where broadband is the central product. It’s about broadband, and what else can we give you to round out broadband” Cavanagh said.