Comcast’s customers are dropping like flies, just like Verizon’s

MSN ^ | 4/25/2025 | Matthew Sholtz

[bert]

Trends favor cord-cutting and switching to streaming services, leading to customer losses. Comcast's Peacock service saw growth, but remains unprofitable after five years. Universal Studios' earnings dropped in part due to the California wildfire. It's the time of year when Q1 earnings reports are starting to trickle in, and much like Verizon's recent report that showcased significant subscriber losses, Comcast is also feeling the pinch, with a report detailing customer losses across paid TV and broadband (via Bloomberg).

While it's not all bad news, Comcast’s Peacock service saw some growth, it's still not a profitable service after five years. Ouch. Cutting the cable television cord has been a trend ever since Netflix started offering streamed online content all the way back in 2007.

Consumers were no longer beholden to cable providers to get their movie and TV show fix, and this trend is still growing with no expectation of it stopping.

So when Comcast drops an earnings report that details it lost 427,000 Pay-TV customers, it may not come as a surprise. But if you're thinking Comcast is cleaning up by picking up new broadband subscribers as they switch from cable to streaming services, you'd be wrong, as Comcast also lost 199,000 domestic broadband customers in the last quarter.

And things only get worse from here. Like many companies that want to keep their content on their own services, Comcast's Peacock streaming service exists to pick up those cable customers leaving for greener streaming pastures. And while the Peacock streaming service saw 41 million new subscribers in the quarter, with revenue rising 16% to $1.23 billion, this sum still failed to hit a projected $1.3 billion, leaving Peacock unprofitable (for its fifth year in a row) with a $215 million adjusted loss for the quarter.

[Swanks]

I’d say if you can try the antenna outside the house just to compare. Attics can block a lot of signal. Then again IF the next group of channels are marginal in value then it’s not worth it. Don’t need a QVC and Spanish language station..