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Comcast sets personal bests for TV churn, internet surge

Comcast just keeps on churning. Full year 2019 pay TV cancellations totaled 671,000 – bringing the cable giant’s total footprint down to 21.25 million subscribers. To make matters worse, the prodigal Peacock was on hand to rub salt into its parent company’s wounds. Start-up costs associated with the forthcoming streaming service drove EBITDA into the ground with a $232 million loss for the fourth quarter 2019, a $30 million hike over the previous year. Comcast’s annual cord cutting run rate has almost doubled every year since 2017, losing a little over 1.2 million subscribers in that three-year period. At this run rate, Comcast could even drop below 20 million by this time next year and be well on its way…

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