People are pulling the plug on cable television by the hundreds of thousands. Comcast’s Q2 2012 earnings show the cable company is relying heavily on its high-speed Internet service subscribers.
Though the cable giant reports an increase in customers of 138,000 (a 40.1% increase compared to second quarter “net additions” in 2011); the cable company also lost a massive 395,000 television subscribers in the last year.
This number is huge, considering Credit Suisse analyst Stefan Anninger previously predicted 200,000 fewer subscribers would pay for television services this year.
Take a look at the numbers below from the press release:
Photo: Comcast press release Q2
If you’re unfamiliar with either, one Comcast cable subscription provides an account holder with access to both streaming sites from three different computers / devices. It’s handy for subscribers, but a potential disaster for Comcast since there’s no limit on when and where anyone can access their account, and subscriptions can be cheaper.
The freedom to stream whenever and wherever makes it easy for debt-ridden college students to piggyback off their parents’ paid cable subscriptions long after they’ve left the nest, for instance.
For Comcast, this portends fewer subscriptions in the long run from millennials.
Just another nail in old-fashioned television’s imminent coffin.
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