The market for cable television has been in steady decline since the introduction of streaming services like Netflix. One of the companies that has been losing subscribers is Comcast, who has been reporting losses in every period since streaming gained popularity. However while others have not made a shift to increase revenue, Comcast has adapted to grow with the trend and has focused more on providing internet with branches like Xfinity. This area has been growing due to the increased demand by consumers for faster internet to keep up with increased streaming. While Comcast has been losing money from cable subscribers dropping them, the demand for faster internet has offset these losses.
Comcast has also invested in streaming services, such as Hulu, of which they own 30%. The combination of internet revenue and streaming revenue means that unlike other cable companies, Comcast has been expanding and growing. They have also recently acquired other streaming services such as Sky, a European pay-tv company.
By slowly moving away from dependence on cable and instead focusing on high-speed internet and streaming services, Comcast is not only increasing its share values but ensuring that if or when cable becomes obsolete and the market completely shifts to streaming, they will still have a future in the business.
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