Comcast just lost another 419,000 Pay TV subscribers

Comcast reported on Tuesday the loss of another 419,000 linear video customers in the second quarter, 11.9% of its based from the year prior, but that was its best pay TV customer quarter since the end of 2022.

In the second quarter of 2023, Comcast lost 543,000 pay TV subscribers. The cable company hasn’t seen its year-over-year rate of video attrition fall below 12% since the fourth quarter of 2022.

Comcast, which had more than 22.5 million linear video subscribers at the end of June 2014, ended June 30 of this year with 13.199 million remaining pay TV souls. It had 14.985 million linear video customers as of the end of the second quarter of last year.

Comcast’s revenue from video services declined 7.8% year over year to $6.781 billion in the second quarter.

Q2 earnings season for the U.S. pay TV business is still in the early stages, but already we’re seeing (slight) cord-cutting deceleration at other operators.

On Monday, Verizon reported the loss of 65,000 Fios-branded pay TV subscriptions, down from 69,000 from April – June of last year. Yahoo