Comcast cable video subscribers down 29,000 in 4Q 2018

Wednesday, January 23rd, 2019 
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PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter and year ended December 31, 2018.

Cable Communications

Total Customer Relationships increased by 258,000 to 30.3 million in the fourth quarter of 2018. Residential customer relationships increased by 229,000 and business customer relationships increased by 29,000. At the end of the fourth quarter, 67.6% of our residential customers received at least two Xfinity products. Total high-speed internet customer net additions were 351,000, total video customer net losses were 29,000, total voice customer net additions were 2,000 and total security and automation customer net additions were 39,000.

For the year ended December 31, 2018, total customer relationships increased by 1.0 million. Residential customer relationships increased by 878,000 and business customer relationships increased by 123,000. Total high-speed internet customer net additions were 1.4 million, total video customer net losses were 370,000, total voice customer net losses were 103,000 and total security and automation customer net additions were 186,000.

Brian Roberts, Chairman and Chief Executive Officer: “In video, we are leveraging our X1 platform to be the best aggregator of aggregators, delivering the broader selection of content. With our integration of YouTube, Netflix and most recently Amazon Prime Video in December, X1 is the best platform to consume live, on demand and streaming content on TV and on Xfinity Stream.”

Video Customers (thousands)

                                                                2017
                              --------------------------------------
                                  1Q      2Q      3Q      4Q      FY
                              ------  ------  ------  ------  ------
Total                         22,549  22,516  22,390  22,357
Net Additions (Losses)            42    (34)   (125)    (33)   (151)
Advanced Services Customers*  14,918  14,994  14,979  15,029

                                                                2018
                              --------------------------------------
                                  1Q      2Q      3Q      4Q      FY
                              ------  ------  ------  ------  ------
Total                         22,261  22,121  22,015  21,986
Net Additions (Losses)          (96)   (140)   (106)    (29)   (370)
Advanced Services Customers*  15,055  15,171  15,276  15,471

Sky

Pro Forma Total Customer Relationships increased by 164,000 to 23.6 million in the fourth quarter of 2018. For the twelve months ended December 31, 2018, total customer relationships increased by 735,000 to 23.6 million.

Brian Roberts, Chairman and Chief Executive Officer: “Sky operates in significantly under penetrated markets and has terrific long term growth ahead of it including the potential to expand into new markets.”

                                                                       2017
                                     --------------------------------------
                                         1Q      2Q      3Q      4Q      FY
                                     ------  ------  ------  ------  ------
Customer Relationships               22,423  22,499  22,660  22,865
Customer Relationships
 Net Additions (Losses)                 106      76     161     205     548
Average Monthly Direct-to-Consumer
 Revenue per Customer Relationship   $52.16  $54.11  $56.21  $57.77  $54.96

                                                                       2018
                                     --------------------------------------
                                         1Q      2Q      3Q      4Q      FY
                                     ------  ------  ------  ------  ------
Customer Relationships               22,903  23,010  23,436  23,600
Customer Relationships
 Net Additions (Losses)                  38     107     426     164     735
Average Monthly Direct-to-Consumer 
 Revenue per Customer Relationship   $60.19  $58.79  $56.26  $56.36  $57.67

More: Earnings Release; Earnings Call Transcript

Links: Comcast; Sky