In 2023, cord cutting will likely continue to rise, and we already know how severely Comcast has been impacted.
In 2023, Comcast lost 2,036,000 cable TV subscribers. Additionally, in 2023 the company lost 38,676 Internet customers. Despite attracting over 32,000 new Internet users at the beginning of the year, Comcast lost customers in the latter three quarters of 2023.
These figures represent an increase from the 1.66 million TV subscribers Comcast lost in 2021 to over 2 million in 2022.
For Comcast, this is two negative news at once. Many had long anticipated that the decrease in TV subscribers would coincide with an increase in Internet users. Rather, as fiber, 5G home internet, and other options begin to become available to Comcast, we are witnessing a decline in Internet subscribers.
Comcast has been severely impacted by cord cutting as well as cord cutting 2.0. With the advent of “cord cutting 2.0,” Americans are fully severing their ties to cable TV companies by canceling both their Internet and TV service.
Americans now have additional home Internet options, much like they did in the early days of cord cutting. Although 5G home internet has been among the fastest-growing, Comcast has also suffered from other new Internet options like satellite and fiber.
READ MORE: With The Rise Of Cord Cutting, Cable TV Is Dying On A Global Scale
Currently, Comcast appears to be banking on new faster Internet options to assist prevent users from switching to slower but less priced offerings.
Scissors cutting the cable cord saving money not paying for cable television.,
What can we expect in 2024? What will happen to Comcast’s remaining TV subscribers is an issue that is raised by the fact that the cost of its cable TV is already increasing in 2024.
The first significant cable TV provider to disclose its financial results was Comcast, but others—including Spectrum—will follow suit shortly.
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