If you’re a Comcast cable television customer, get ready to pay more. The company stated on Thursday that rate “modifications” are planned for 2020, as cable television customers continue to shed their bundled cable/ internet plans in favor of streaming channels.
The company’s cable division continued to lose subscribers at a quicker rate than expected in the fourth quarter, even though those losses slowed somewhat from a year ago. Even though Comcast’s 4th quarter results were dented by lost cable subscribers and an awful box office for the film Felines, the company continued to include broadband subscribers, pressing its revenues up 26 percent.
Comcast CEO Brian Roberts said that the company is now looking ahead to the July launch of its own streaming service, Peacock. “We needed to pivot the entire company to the streaming world and I believe what’s interesting is how well our cable television company has actually done that,” he said. “Peacock will go right back for the advertisers and get you in a growing market, making the most of streaming with a free product as well.”
Stephen Burke, the outbound chairman of NBCUniversal, appears to believe Comcast can be a major player in the streaming wars, despite being a somewhat late entry in the field. “I think our business is much better positioned as the world moves to streaming than any other business in the world.
The business’s cable television department lost 149,000 subscribers in the fourth quarter of 2019, despite the fact that it postponed its scheduled rate boosts to2020 Comcast added 442,000 broadband subscribers in Q4, which is way ahead of the 378,000 Wall Street was anticipating.
As for the entertainment division, even though Felines bombed at the box workplace, Comcast’s NBCUniversal section (which consists of NBC Entertainment and Universal Pictures) saw income of $9.
The company’s filing doesn’t specifically referral Felines, instead pointing to “lower theatrical earnings” for the quarter. It also mentions the “volume and strength of releases in last year’s 4th quarter,” citing Dr. Seuss’ The Grinch and Halloween as strong 2018 performers for the filmed home entertainment division.
Peacock is slated to introduce on July 15 th with three tiers of service, consisting of a complimentary ad-supported alternative and the $10- per-month Peacock Premium.