Comcast lost 209,000 residential cable television customers in the United States in the second quarter of 2019, ending with 20.64 million. Meanwhile its Sky operation in Europe gained 304,000 customers, for a total of 24.02 million. Comcast executives appear unconcerned by the loss of cable television customers as they benefit from growth in broadband.
The loss of 209,000 cable television customers is an increase on the 107,000 Comcast lost in the first quarter or the 136,000 it lost in the second quarter the previous year. The company has lost 430,000 customers in 12 months. At the end of June 2019, it had 20.64 million, compared to 21.48 million two years previously. Video revenue was $5.59 billion for the quarter, compared to $5.63 billion for the comparable quarter a year before.
Residential internet customers increased by 183,000, compared to 352,000 the previous quarter and 226,000 in the second quarter the previous year. Comcast now has 25.63 million residential internet customers in the United States. Revenue from providing internet access rose to $4.66 billion for the second quarter, compared to $4.26 billion a year before.
As far as Comcast is concerned, customer numbers increased overall, with total residential customer relationships standing at 28.51 million in the United States, compared to 28.3 million the previous quarter and 27.60 million the previous year.
Average monthly revenue per customer was $156.44, compared to $155.91 a year previously.
Brian Roberts, the chief executive of Comcast said “I am very pleased with our terrific second quarter results and the continued, successful execution of our strategy. Each of our businesses demonstrated healthy growth in adjusted EBITDA, contributing to a double-digit increase in adjusted earnings per share.”
Group revenue for the year to mid-2019 rose to $53.72 billion, including the contribution from Sky in Europe.
Total customer relationships for Sky across Europe rose to 24.02 million, including broadband and mobile, a quarterly increase of 304,000. Customer growth mostly came from streaming subscribers.
“Across Sky and Cable, we added 456,000 new relationships this quarter and 868,000 in the first half of the year,” the Comcast chief executive told analysts. “In all the geographies in which we compete, we lead with superior products, content and technology.”
“If you take a step back, there’s significant competition and change in the ecosystem right now. But that said, for years, we’ve felt that video over the internet is more friend than foe. We believe it plays to our strengths. We’ve got a great roadmap in each of our businesses and an even better outlook when you add it all together — the fastest broadband married to world-class platforms as well as highly rated, relevant content.”
Michael Cavanagh, the chief finance officer, said: “Video will continue to play an important role in our strategy. But as we said before, we will not chase unprofitable video subs.”