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July 31, 2020 11:00 pm

Comcast Lost 477,000 Cable Customers In Q2 2020

AT&T lost an astounding 900,000 cable subscribers in the first quarter of 2020, and now, Comcast has reported that it lost 477,000 pay-TV subscribers of its own for Q2. TechSpot reports: In Q1 2020, roughly 409,000 subscribers pulled the plug on their Comcast-provided cable subscriptions -- this last quarter, the corporate giant managed to lose substantially more. If these losses continue to grow at this rate, Comcast may be on track to lose twice as many cable subscribers this year as it did last year. For reference, the company took a hit of around 733,000 cable subscribers in 2019, and it has already dropped significantly more than that (around 886,000 customers) in 2020. There are plenty of reasons for these mass subscriber losses, but Covid-19 is likely chief among them. Thousands of Americans have lost their jobs due to coronavirus complications (including business shutdowns). Even many who haven't are now working from home, giving them more free time to explore alternatives to cable TV, such as Netflix, Hulu, Disney+, and others. What it lost in cable-TV subscribers it gained in internet customers. The report notes that Comcast "managed to snag around 323,000 additional broadband customers in Q2 2020: the 'best second quarter high-speed internet net adds in 13 years,' according to the company."

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