Comcast, the US-based cable and internet provider, has reported significant broadband subscriber losses, with 545,000 subscribers leaving its service over the past year alone. This represents a rate four times that of the previous 12 months. The company’s struggles in retaining customers have led to a plunge in its stock price.
The news comes as a blow to Comcast’s core business, which has been under pressure in recent years due to increased competition and changing consumer habits. Despite efforts to attract new subscribers, the company has struggled to stem the flow of losses.
Comcast’s admission highlights the challenges facing traditional pay-TV providers in the modern era of streaming services and online content consumption. As consumers increasingly turn to alternatives for their entertainment needs, companies like Comcast must adapt to stay competitive.
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Source: https://www.marketwatch.com/story/comcast-beats-on-first-quarter-profit-even-as-it-continues-losing-broadband-subscribers-6d251ca4