Comcast cable video subscribers down 389,000 in 4Q 2023

PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended December 31, 2023.

Peacock

Peacock paid subscribers increased nearly 50% compared to the prior year period to 31 million, including net additions of 3 million in the fourth quarter.

Peacock revenue in the fourth quarter increased 57%, surpassing $1.0 billion in quarterly revenue for the first time. Adjusted EBITDA in the fourth quarter improved compared to the prior year period.

Paid subscribers (in millions)

              2021                2022                2023
------------------  ------------------  ------------------
 1Q   2Q   3Q   4Q   1Q   2Q   3Q   4Q   1Q   2Q   3Q   4Q
---  ---  ---  ---  ---  ---  ---  ---  ---  ---  ---  ---
  3    4    6    9   13   13   16   21   22   24   28   31

Connectivity & Platforms

Total Customer Relationships for Connectivity & Platforms decreased by 183,000 to 52.1 million, reflecting decreases in Residential Connectivity & Platforms customer relationships. Total domestic broadband customer net losses were 34,000, total domestic wireless line net additions were 310,000 and total domestic video customer net losses were 389,000.

Residential Connectivity & Platforms Customer Relationships (in thousands)*

                                                2021                            2022                            2023
                                      --------------  ------------------------------  ------------------------------
                                          3Q      4Q      1Q      2Q      3Q      4Q      1Q      2Q      3Q      4Q
                                      ------  ------  ------  ------  ------  ------  ------  ------  ------  ------
Domestic                              31,658  31,809  31,993  31,955  31,928  31,860  31,826  31,761  31,722  31,648
Domestic Net Additions (Losses)          235     150     184    (38)    (26)    (68)    (34)    (65)    (39)    (74)
International                         18,067  18,030  17,908  17,788  17,884  17,939  18,051  17,884  17,958  17,847
International Net Additions (Losses)   (238)    (36)   (122)   (120)      96     55      111   (167)      74   (111)

Domestic Video (in thousands)

                                                        2021                            2022                    2023
                                      --------------  ------------------------------  ------------------------------
                                          3Q      4Q      1Q      2Q      3Q      4Q      1Q      2Q      3Q      4Q
                                      ------  ------  ------  ------  ------  ------  ------  ------  ------  ------
Customers                             18,549  18,176  17,664  17,144  16,582  16,142  15,528  14,985  14,495  14,106
Net Additions (Losses)                 (408)   (373)   (512)   (521)   (561)   (440)   (614)   (543)   (490)   (389)

* Residential Connectivity & Platforms customer relationships generally represent the number of residential customer locations that subscribe to at least one of our services. International Residential Connectivity & Platforms customer relationships represent customers receiving Sky services in the United Kingdom and Italy. Previously reported total Sky customer relationships of approximately 23 million as of December 31, 2022 also included approximately 5 million customer relationships receiving Sky services in Germany. Because each of our services includes a variety of product tiers, which may change from time to time, net additions or losses in any one period will reflect a mix of customers at various tiers.