FierceTelecom on Comcast: Comcast reels in 300K broadband subs as growth slows

From FierceTelecom:

Comcast raked in 300,000 broadband net additions in Q3 2021, a figure that was less than half the number it added last year and lower than the pre-pandemic gain it posted in the comparable period of 2019.

The operator added 633,000 subscribers during the pandemic in Q3 2020 and 379,000 broadband customers in Q3 2019. Comcast CFO Michael Cavanagh previously warned during an investor conference in September the operator expected net additions to slow in Q3.

On an earnings call, Comcast Cable CEO Dave Watson attributed the decline to various changes in consumer activity.

“There has been a slowdown in connects across our footprint” thanks in part to reduced “move activity” in the second half compared to earlier in the year and even 2019, he said. Watson also highlighted a dip in “college student activity, not alarmingly so but just a little but less, and just a little bit less switching activity overall. I think if you look at other operators, everyone’s churn is down, so that means less jump balls where we do well.”

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