Comcast Expects To Lose More Video Subs In 2020

During Thursday's analysts call, Comcast CFO Mike Cavanagh said the company expects to lose even more video subscribers in 2020 than it did in 2019, when 733,000 customers dropped the service.

The company doesn’t expect the bleeding to slow down in 2020, reports The Philadelphia Business Journal.

Cavanagh said the combination of price increases and “ongoing changes in consumer behavior” will drive higher video subscriber losses this year. This news doesn’t come as a surprise to any Comcast observer, as executives have long said their goal isn’t to chase after every video subscriber but to instead focus on those that don’t mind paying more for a “premium experience” with its next-generation, set-top box X1.

After all, customers who cut the cord still need to pay for high-speed internet service to stream services like Netflix and Hulu. Comcast added enough new broadband subscribers to more than offset its video subscriber losses, bringing on 1.1 million new customers in 2019, a record high.

Analysts have questioned how long Comcast can keep up its broadband growth, but executives maintain the company has plenty of runway ahead and is rolling out features like a free cybersecurity service and better management tools for home networks to differentiate it in the market.

“We wake up every day thinking about how we’re going to grow and sustain broadband, and I think it’s working” said Dave Watson, who leads Comcast’s cable division.