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Media Entertainment

Comcast CEO Says No Plans for Streaming Service

With its acquisition of European pay TV provider Sky complete, Comcast has no  plans to launch a global streaming service, Comcast CEO Brian Roberts said on an investor call Thursday. Comcast won the bidding for Sky, beating 21st Century Fox last month, causing industry speculation that the U.S. cable company would use Sky to launch a global streaming service to better compete with Netflix and Disney’s upcoming offering.

However, Mr. Roberts  said that there are no such plans right now to launch its own direct to consumer service as it is “challenging economically,”  and Comcast doesn’t want to cannibalize its existing television business.

For now, Comcast’s strategy of using video to support its high-speed Internet business seems to be working. Comcast added 363,000 Internet subscribers, its best quarter in 10 years, while it lost 106,000 video customers, down from 125,000 in the quarter a year ago. However as more customers continue to cancel their cable subscriptions, it remains to be seen if Comcast will have to do more.

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