Comcast adds 24,000 billable video customers in 1Q 2014

Tuesday, April 22nd, 2014
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Video Customers Increased by 24,000, the Second Consecutive Quarter of Customer Growth

  • Increased HD and/or DVR customers to 12.6MM; now 56% of Video customers vs. 53% in 1Q13

PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA, CMCSK) today reported results for the quarter ended March 31, 2014.

Cable Communications

Customer relationships increased by 124,000 to 26.8 million in the first quarter of 2014. At the end of the first quarter, penetration of our triple product customers increased to 36% compared to 33% in the first quarter of 2013. In addition, video, high-speed Internet and voice customers increased.

Video (in thousands)(1)

                                  2012                                    2013    2014
                                ------  --------------------------------------  ------
                                    FY      1Q      2Q      3Q      4Q      FY      1Q
                                ------  ------  ------  ------  ------  ------  ------
Video Customers(2)
 Billable Customers Method      22,844  22,819  22,658  22,531  22,577  22,577  22,601
 EBU Method                     21,995  21,935  21,776  21,647  21,690  21,690
Video Net Additions (Losses)
 Billable Customers Method                (25)   (162)   (127)      46   (267)      24
 EBU Method                      (336)    (60)   (159)   (129)      43   (305)
Advanced Services Customers(3)
 Billable Customers Method      11,801  12,074  12,128  12,233  12,533  12,533  12,634
 EBU Method                     11,755  12,027  12,078  12,149  12,413  12,413

1. Beginning with its 2014 fiscal year, Comcast Corporation revised its methodology for counting customers in its Cable Communications segment. The new methodology (the “Billable Customers Method”) relates to how we count and report customers who reside in multiple dwelling units (“MDUs”) that are billed under bulk contracts. For MDUs whose residents have the ability to receive additional cable services, such as additional programming choices or our HD and DVR services, we now count and report customers based on the number of potential billable relationships within each MDU. For MDUs whose residents are not able to receive additional cable services, the MDU is now counted as a single customer. Previously, we had counted and reported these customers on an equivalent billing unit (“EBU”) basis by dividing the monthly revenue received under an MDU’s bulk contract by the standard monthly residential rate where the MDU was located (the “EBU Method”). We have reported Video Customer information using both the old and new methodologies for 2013.

2) Customer metrics include our residential and business customers.

3) Advanced Services Customers subscribe to DVR and/or HDTV services. Full year 2012 amount includes an adjustment for an additional 276,000 Advanced Services Customers not previously reported.