Comcast loses 95,000 video subscribers but rides broadband growth to higher Q3 cable revenues

Comcast said its total customer relationships increased by 288,000 to 30.1 million. (Comcast)

Comcast gave back another 95,000 residential video subscribers during the third quarter but, thanks in part to broadband growth, still grew revenues for its cable segment.

The video subscriber losses were an improvement over the same quarter one year ago when the company lost 134,000 video subscribers. This quarter’s video losses were coupled with a slight decrease in video revenues, down 2.9% to about $5.6 billion.

That decline was offset by an increase in internet service revenues, up 9.6% to about $4.3 billion, which helped overall cable communications revenues climb 3.4% to nearly $13.8 billion. Adjusted EBITDA for the segment grew 7.6% to $5.6 billion, which CEO Brian Roberts said was the fastest growth in six years.


Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

Comcast also attributed growth in the cable segment to growth in business services and advertising. The company said the decrease in video revenues was mostly due to fewer video subscribers, but said comparisons were affected by a pay-per-view boxing event in the year-ago quarter.

In all, Comcast said its total customer relationships increased by 288,000 to 30.1 million.

RELATED: Comcast loses 140K cable subscribers and swings to video revenue decline

Comcast’s NBCUniversal revenue rose 8.1% to $8.6 billion but adjusted EBITDA fell 8.5% to $2.1 billion. All divisions within the segment grew revenues except for Theme Parks.

NBCU’s cable networks revenue rose 10.8% to $2.9 billion and adjusted EBITDA rose 6.9% to $968 million. The growth was driven by distribution revenues increasing 9.5% and content licensing and other revenues jumping a whopping 36.1%.

NBCU’s broadcast television revenue rose 15.4% to $2.5 billion and adjusted EBITDA rose 1.8% to $321 million. The company attributed growth to increased advertising thanks to Telemundo’s 2018 World Cup broadcast and said it was partially offset by ratings declines.

Overall, Comcast’s consolidated revenues grew 5% to $22.1 billion during the third quarter, while adjusted EBITDA grew 2.5% and net income grew 9.3%.

Suggested Articles

Content delivery network and edge cloud service provider Limelight Networks released some figures outlining its recent global expansion efforts.

The makers of PlayStation and Xbox, heated rivals in the video game console market, are forming an unlikely alliance to explore cloud gaming and artificial…

FierceVideo’s second annual Pay TV Show has wrapped for 2019. The three-day event featured speakers from across the traditional and streaming video industry.