Comcast video subscribers down 48,000 in 3Q 2015

Tuesday, October 27th, 2015 
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Best Third Quarter Video Customer Result in Nine Years

PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA, CMCSK) today reported results for the quarter ended September 30, 2015.

Cable Communications

Customer Relationships increased by 156,000 to 27.4 million in the third quarter of 2015, a 74,000 or 90.2% improvement compared to the third quarter of 2014, primarily driven by increases in double product relationships. Video net losses improved 40.6% year-over-year to 48,000 and were the best result for a third quarter in nine years. High-speed Internet customer net additions of 320,000 improved versus last year and were the strongest for a third quarter in six years, while voice customers grew by 17,000.

Video Customers

                                                        2014                    2015
                              ------------------------------  ----------------------
                                  1Q      2Q      3Q      4Q      1Q      2Q      3Q
                              ------  ------  ------  ------  ------  ------  ------
Total                         22,601  22,457  22,376  22,383  22,375  22,306  22,258
Net Additions (Losses)            24    -144     -81       6      -8     -69     -48
Advanced Services Customers*  12,634  12,730  12,786  13,043  13,215  13,337  13,466

* Advanced Services Customers subscribe to DVR and/or HDTV services.

Brian Roberts – Comcast Corporation – Chairman & CEO: “We added 156,000 customer relationships, up over 90% from the prior year. Our video results were the best for a third quarter in nine years and our broadband results were the best for a third quarter in six years. Similar to last quarter, churn was a standout as we saw an improvement across every category.”

“We continue to push harder on X1 and have now accelerated our deployment to over 40,000 boxes per day. Roughly 25% of our video subscribers now have X1 and the reaction from our customers together with the financial benefits that we are seeing continues to indicate we should go even faster in taking that rate higher.”