Comcast, the country's largest cable operator and the owner of NBC Universal, for the first time has more subscribers for its broadband service than for TV, the company said today. It ended the second quarter with 22.5 million broadband subscribers and 22.3 million video subscribers.
Comcast shed 69,000 video subscribers in the quarter, fewer than the 144,000 lost during the same period last year, and better than the 112,000 that analysts predicted. But the company also added 180,000 broadband subscribers during the quarter.
But Comcast CEO Brian Roberts said in a press released that the second quarter delivered the best video results for Comcast in nine years, but the moment is still yet another sign of the shift taking place in the industry, with more people abandoning the traditional pay-TV model and watching content on connected devices and platforms.
In an effort to stymie video losses and remain competitive in the TV space, Comcast earlier this month introduced Stream, a pared-down TV bundle that's available over the internet. The service is available only to Comcast broadband subscribers and includes just broadcast networks, as well as an option to add on HBO for an extra fee.