Comcast Cuts the Cord: Cable TV Customers Drop Below 50% of Company’s Connectivity Clients for First Time
just 48% of U.S. adults had a monthly cable or satellite subscription, while a slim majority had signed on for streaming services.Indeed, Comcast, which owns NBCUniversal, also reported that its streaming service Peacock picked up 2 million net new subscribers in the quarter.As a result of the decline in cable subscribers, Comcast saw revenue from video fall 8% year-over-year to $7.38 billion in the first quarter, down from $8 billion last year.Put another way, cable TV revenue in the first quarter was not quite 25% of Comcast’s total revenue of $29.69 billion.At the same time, both broadband and wireless customers in the U.S.