Comcast Manages To Increase Its Internet Subscribers Leading To Boost The Global Internet Market

Feb-2019 | 99Strategy | Technology

Comcast, An American telecommunication firm, is still losing its cable customers in the U.S. region. At the same time, the reports state that it has managed to collect more Internet subscribers. This has lead to boost the Internet market in this region. The firm achieved to gather revenue advancement from Sky, its large bet on European TV. The Philadelphia firm proclaimed that it lost about 29,000 U.S. cable subscribers in the 4th quarter. However, it managed to add almost 351,000 Internet users. The firm also expanded customers in its latest cellphone-plan business. This huge increase in its Internet users presents hopes to witness further growth in the global market as well.

At the same time, the firm is facing an increasing number of individuals removing their cable packages to save their money. This situation has indirectly led to the growth of the market in this region. Reportedly, numerous firms have joined Netflix, a well-known media service provider, to offer cost-effective streaming services and attract new customers as well as keep the previous customers linked to their services. Comcast as well is trying to compete in this part. It is rolling out a streaming service in the upcoming year.

Comcast is joining this packed field that is competing to gain its subscribers’ attention. It is seeking expansion in overseas as well. This move by the firm is supposed to boost this market. The firm’s Sky contract completed in October 2018. At that time, the firm had to face a remarkable tug of war with its competitor U.S. entertainment firms. This contract presents to Comcast TV, cellphone as well as home Internet customers in Europe and boosts the global Internet market. In that unit, profits would have increased by almost 2.4% to $5 Billion.