Comcast Reports Drop in Cable Subscribers; Blames Economy

In a post this weekend, I wrote about how the cable tv industry was finally stepping towards the cliff. And we'd learn more today when Comcast , the largest U.S. cable operator, reported earnings. Well, the numbers are out, and it's not a surprise. 275,000 Comcast subscribers cut the cord last quarter. Its subscriber count is down 3.5% from the same quarter last year. To be fair, some of that loss was offset by a gain in 219,000 digital cable subs. Revenue was up as customers bought higher priced bundles of tv, internet and phone service. But.... During the earnings call, Comcast blamed the drop on the lousy economy. Always a handy excuse. Sure, many people are struggling right now, and it makes sense that the high cost of cable is an expense they can no longer afford. Comcast said, based on exit interviews, only a ' small number ' seemed to cut the cord for over-the-air signals, and they are not planning to switch to internet tv alternatives. But ....