Looks like the popular notion that the internet will make traditional television obsolete has taken yet another step towards reality. This was made apparent in Comcast's latest earnings report which outlined the shift in viewership. In total, Comcast has 22.5 million broadband subscribers vs 22.3 million video subscribers. It has been estimated that Comcast has lost around 3 million video subscribers over the course of the last seven years. That's a lot.
Broadband growth was slower compared to last year with 180,000 new broadband subscribers in comparison to the previous year which saw 203,000 new subscribers. The rate at which Comcast lost video subscriptions also slowed down. Last year saw a 144,00 subscription loss and this year that number was reduced to 69,000 new losses. It's still a continuing trend and companies like Netflix, Hulu, Amazon Video and YouTube are becoming increasingly popular.
Now, lets not all forget that they also have a 51% stake in NBC Universal which has had an amazing year with hits like Furious 7 and the record breaking Jurassic World. This and a 4.5% increase to Comcast customers monthly bills explains their net income of $2.18 billion for a total of $18.74 billion. Looks like they will have a few more years to figure out this internet thing. Turns out it wasn't a fad.