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COMCAST, CABLE CORDCUTTING AND THE ECONOMY
Comcast beat estimates but surprised analysts with an almost 300,000 subscriber loss, reports Tim Arango in the New York Times. From the article:
[Bernstein analyst Craig] Moffett said the image of the cord-cutter has been a “cutting edge technologist” who prefers to bypass cable to watch programming on their computers and on an every-proliferating array of devices, such as tablets. “The reality is it’s someone whose 40 years old and poor and settling for a dog’s breakfast of Netflix and short-form video.”
He added, “the image that people are cutting the cord because they like what’s on the Internet better is giving way to a much more realistic view that what they find on the Internet is marginally good enough when you’re making a choice between a full-service cable package and a third meal on the table.”
