Comcast reports gains, thanks to cord cutters
Cord cutters are ironically leaving cable providers (like Comcast) for online video streaming services that rely on broadband internet providers (like Comcast).
Cable giant Comcast hasn’t had the best relationship with its customers this year. From mishandled service calls to pushback on a proposed merger with Time Warner Cable, Comcast's reputation has consistently earned it the honor of worst company in America. That, combined with an ever growing trend in customers moving from cable to online video streaming services, has caused 81,000 out of more than 22 million cable customers to drop their Xfinity TV service.
While that may be terrible news, the company is still celebrating because Comcast’s third quarter profits are higher than any reported in the past seven years.
A quarter of a million cord cutters have abandoned their Comcast cable service this year alone. But the company's profits are making gains thanks to those same cable cutters who require broadband internet service to stream video online. In fact, 315,000 more customers signed up for Xfinity internet in the third quarter, surpassing the number of those who left, including phone and television customers, by a slim margin of 1,000.
The internet is one last cord that few are able to cut.
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