Oct
26
Comcast, Charter Disappoint as Pay TV Pressure Takes a Toll
Posted in: Uncategorized
The hurricanes that hurt Comcast and Charter Communications have passed, but investors are still waiting for the storm clouds over the cable industry to lift.
Comcast, the largest U.S. cable operator, posted the biggest loss in cable-TV customers in three years, while No. 2 provider Charter reported a drop that was almost four times what analysts had expected.
The losses highlight how difficult it has been for pay-TV providers to retain subscribers as more people switch to lower-cost online options like Netflix, Amazon and Hulu. The advent of online streaming cable packages, like AT&T’s DirecTV Now, has also made the field of rivals even more crowded.
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