Comcast

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Bleeding subscribers, cable companies force their way into streaming

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Enter NOW TV Latino —

Companies like Charter brought about the streaming industry they now want to join.

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A person's hand aiming a cable TV remote control at a TV screen

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It’s clear that streaming services are the present and future of video distribution. But that doesn’t mean that cable companies are ready to give up on your monthly dollars.

A sign of this is Comcast, the US’ second-biggest cable company, debuting a new streaming service today. Comcast already had an offering that let subscribers stream its Xfinity cable live channels and access some titles on demand. NOW TV Latino differs in being a separate, additional streaming service that people can subscribe to independently of Xfinity cable for $10 per month.

However, unlike streaming services like Netflix or Max, you can only subscribe to NOW TV Latino if Xfinity is sold in your area. NOW TV Latino subscriptions include the ability to stream live TV from Spanish-language channels that Xfinity offers, like Sony Cine and ViendoMovies. And because Comcast owns NBCUniversal, people who subscribe to NOW TV Latino get a free subscription to Peacock with commercials, which usually costs $6/month.

From cable to streaming

In addition to NOW TV Latino, recent Comcast efforts to stay relevant in a TV and movie distribution world dominated by online streaming has centered on bundling. As streaming giants like Netflix struggle with customer churn, bundling is the current favored tactic to keep customers subscribed for longer.

Comcast is selling NOW TV Latino as a separate service, but it’s truly a Peacock bundle. The cable giant is also selling the streaming service bundled with its cable service or with its recently released streaming bundle that combines Comcast’s Peacock with Netflix, Apple TV+, and ads for $15/month.

While popular for streaming service providers, cable companies were some of the pioneers of the bundling strategy, which can overwhelm customers with confusing rates and services that some may not need. As Comcast CEO Brian Roberts said in May while announcing the aforementioned Peacock/Netflix/AppleTV+ bundle: “We’ve been bundling video successfully and creatively for 60 years, and so this is the latest iteration of that.”

Bleeding customers

The cable industry has been in a nose-dive for years. Comcast’s Q1 2024 earnings report showed its cable business losing 487,000 subscribers. The cable giant ended 2022 with 16,142,000 subscribers; in January, it had 13,600,000.

Charter, the only US cable company bigger than Comcast, is rapidly losing pay-TV subscribers, too. In its Q1 2024 earnings report, Charter reported losing 405,000 subscribers, including business accounts. It ended 2022 with 15,147,000 subscribers; at the end of March, it had 13,717,000.

And, like Comcast, Charter is looking to streaming bundles to keep its pay-TV business alive and to compete with the likes of YouTube TV and Hulu With Live TV.

In April, Charter also announced a Spanish language-focused streaming service, but in traditional cable fashion, one must subscribe to Charter’s Spectrum Internet to be able to subscribe (TV Stream Latino is $25/month). Charter also sells the ability to stream live TV from some of the channels that its cable service has.

In 2022, Charter and Comcast formed a joint venture, Xumo, that focuses on streaming but includes cable industry spins, like set-top boxes. The companies are even trying to get a piece of the money made from smart TV operating systems (OSes), with budget brands such as Hisense now selling TVs with Xumo OS.

It’s a curious time, as cable TV providers scramble to be part of an industry created in reaction to business practices that many customers viewed as anti-consumer. Meanwhile, the streaming industry is adopting some of these same practices, like commercials and incessant price hikes, to establish profitability. And some smaller streaming players say it’s nearly impossible to compete as the streaming industry’s top players are taking form and, in some cases, collaborating.

But after decades of discouraging many subscribers with few alternatives, it will be hard for former or current cable customers to view firms like Comcast and Charter as trustworthy competitive streaming providers.

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Comcast’s streaming bundle is $15/month for Netflix, Peacock, Apple TV+, and ads

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Triple play (with ads) —

It’s $25 or $10 cheaper than separate subs, but note the plans you’re getting.

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Xfinity log on a tablet, with fossil rocks, glasses, and a notepad on the desk beside it.

Enlarge / Comcast/Xfinity’s new bundle of streaming services harkens back to a much earlier era.

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Disaggregation is so 2010s, so Comcast, facing intense pressure from streaming services, is bringing back the old bundle-it-up playbook. Its previously announced bundle of Netflix, Peacock, and Apple TV+, only to Comcast/Xfinity cable or broadband subscribers, will cost $15 per month. It’s a big discount on paper, but the fine print needs reading.

The “StreamSaver” bundle is considered a “companion to broadband,” Comcast’s CEO David Watson said at a conference today, according to Reuters. It cuts more than 30 percent off the separate price of certain tiers of each service and can be bundled with Comcast’s own “NOW TV,” which has 40 other cable channels streaming. The service is due out May 29 in the US.

Take note that Comcast’s bundle gives you Netflix’s “Standard with ads” plan (which also locks you in at “Full HD” resolution and two devices), Peacock’s “Premium” (which also has ads), and Apple TV+, which has made some recent moves toward an advertising infusion. The things that people liked about streaming—being able to pick and choose TV and movie catalogs, pay to avoid advertisements, and not be beholden to their cable company for entertainment—are effectively countered by StreamSaver. The lines get blurrier, and the prices go up.

If you were already set on paying for the cheapest versions of each service and don’t mind not being able to cancel any one of them once you’re tired of it, $15 is indeed a savings. Doing the math earlier this month, Ars’ Scharon Harding totaled up all three networks at $39.47 per month with no advertising, or $24.97 per month with ads.

Tacking streaming services onto your Comcast subscription would help the company out, as would signing up, especially for StreamSaver. Comcast lost nearly 500,000 cable TV subscribers in Q1 2024, down to 13.6 million subscribers, compared to 16.1 million at the end of 2022. Peacock, the streaming service it owns, has not made money since its 2020 launch and lost $2.7 billion in 2023.

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Cable TV providers ruined cable—now they’re coming for streaming

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Cable 2.0 —

Comcast wants to tie its cable/Internet to your streaming subscriptions.

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Cable TV providers ruined cable—now they’re coming for streaming

In an ironic twist, cable TV and Internet provider Comcast has announced that it, too, will sell a bundle of video-streaming services for a discounted price. The announcement comes as Comcast has been rapidly losing cable TV subscribers to streaming services and seeks to bring the same type of bundling that originally drew people away from cable to streaming.

Starting on an unspecified date this month, the bundle, called Streamsaver, will offer Peacock, which Comcast owns, Apple TV+, and Netflix to people who subscribe to Comcast’s cable TV and/or broadband. Comcast already offers Netflix or Apple TV+ as add-ons to its cable TV, but Streamsaver expands Comcast’s streaming-related bundling efforts.

Comcast didn’t say how much the streaming bundle would cost, but CEO Brian Roberts said that it will “come at a vastly reduced price to anything in the market today” when announcing the bundle on Tuesday at MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York, per Variety. If we factor in Peacock’s upcoming price hike, subscribing to Apple TV+, Netflix, and Peacock separately would cost $39.47 per month without ads, or $24.97/month with ads.

According to Roberts, Comcast is hoping that the upcoming package will help Comcast “add value to consumers” and “take some of the dollars out of” other streaming businesses.

For subscribers, the more immediate effect is the continuing and rapid blurring of the lines between cable and streaming services. And Comcast knows that.

As Roberts notes: “We’ve been bundling video successfully and creatively for 60 years, and so this is the latest iteration of that.”

Comcast is hemorrhaging subscribers

Last month, Comcast said it lost 487,000 cable TV subscribers in Q1 2024. It ended the quarter with 13,600,000 subscribers, compared to 14,106,000 at the end of 2023 and 16,142,000 at the end of 2022.

Comcast’s broadband subscriber base also decreased from 32,253,000 at the end of 2023 to 32,188,000.

Peacock, Comcast’s flagship streaming service, hasn’t made any money since launching in 2020 and lost $2.7 billion in 2023. However, in April, Comcast said that Peacock’s Q1 losses lessened from $704 million in Q1 2023 to $639 million in Q1 2024.

It’s worth noting that in January, Comcast raised prices for its cable and Internet services by 3 percent, blaming the price hikes on broadband investments and an increase in programming costs.

Déjà vu

One of the common reasons people abandoned cable TV were bundled packages that forced people to pay for services, like phone or Internet, or channels that they didn’t want. Now, Comcast is looking to save its shrinking subscriber base by bundling its cable TV or Internet service with some of its biggest competitors. Like streaming services, Comcast is hoping that bundling its products will deter people from canceling their subscriptions since they’re tied to each other.

Subscriber churn is also a problem in the streaming industry. Antenna, a subscription analyst company, estimates that around 25 percent of video-streaming subscribers in the US have canceled at least three such subscriptions in the last two years. These high-churn subscribers represent around 40 percent of new subscriptions and cancellations last year, Antenna told The New York Times in April.

But Comcast’s announcement hints at déjà vu as Comcast blatantly seeks to re-create the cable bundle or triple-play package using the very streaming services that are eating away at Comcast’s cable business. Ironically, Comcast is seeking to bandage a declining business by feeding some of the biggest contributors to that decline, using the same tactics that drove many customers away in the first place.

We’re expected to hear a lot more about bundled services. Last month, we learned that a Disney+, Hulu, and Max bundle would be released this summer, for example. And there’s already a lengthy list of streaming bundle packages available from third parties like Verizon and T-Mobile.

But for people who left cable to avoid overloaded bundled packages and to get away from companies like Comcast, which group cable TV or Internet with streaming services that often raise prices, limit show and movie availability and features, and increasingly focus on ads, it just isn’t worth the monthly savings.

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All the ways streaming services are aggravating their subscribers this week

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Streaming services like Netflix and Peacock have already found multiple ways to aggravate paying subscribers this week.

The streaming industry has been heating up. As media giants rush to establish a successful video streaming business, they often make platform changes that test subscribers’ patience and the value of streaming.

Below is a look at the most exasperating news from streaming services from this week. The scale of this article demonstrates how fast and frequently disappointing streaming news arises. Coincidentally, as we wrote this article, another price hike was announced.

We’ll also examine each streaming platform’s financial status to get an idea of what these companies are thinking (spoiler: They’re thinking about money).

Peacock’s raising prices

For the second time in the past year, NBCUniversal is bumping the price of Peacock, per The Hollywood Reporter (THR) on Monday.

As of July 18, if you try to sign up for Peacock Premium (which has ads), it’ll cost $7.99 per month, up from $5.99/month today. Premium Plus, (which doesn’t have ads), will go up from $11.99/month to $13.99/month. Annual subscription pricing for the ad plan is increasing 33.3 percent from $59.99 to $79.99, and the ad-free annual plan’s price will rise 16.7 percent from $119.99/year to $139.99/year.

Those already subscribed to Peacock won’t see the changes until August 17, six days after the closing ceremony of the 2024 Summer Olympics, which will stream on Peacock.

The pricing changes will begin eight days before the Olympics’ opening ceremony. That means that in the days leading up to the sporting event, signing up for Peacock will cost more than ever. That said, there’s still time to sign up Peacock for its current pricing.

As noted by THR, the changes come as NBCUniversal may feel more confident about its streaming service, which now includes big-ticket items, like exclusive NFL games and Oppenheimer (which Peacock streamed exclusively for a time), in addition to new features for the Olympics, like multiview.

Some outspoken subscribers, though, aren’t placated.

“Just when I was starting to like the service,” Reddit user MarkB1997 said in response to the news. “I’ll echo what everyone has been saying for a while now, but these services are pricing themselves out of the market.”

Peacock subscribers already experienced a price increase on August 17, 2023. At the time, Peacock’s Premium pricing went from $4.99/month to $5.99/month, and the Premium Plus tier from $9.99/month to $11.99/month.

Peacock’s pockets

Peacock’s price bumps appear to be a way for the younger streaming service to inch closer to profitability amid a major, quadrennial, global event.

NBCUniversal parent company Comcast released its Q1 2024 earnings report last week, showing that Peacock, which launched in July 2020, remains unprofitable. For the quarter, Peacock lost $639 million, compared to $825 million in Q4 2023 and $704 million in Q1 2023. Losses were largely attributed to higher programming costs.

Peacock’s paid subscriber count is lower than some of its rivals. The platform ended the quarter with 34 million paid users, up from 31 million at the end of 2023. Revenue also rose, with the platform pulling in $1.1 billion, representing a 54 percent boost compared to the prior year.

Sony bumps Crunchyroll prices weeks after shuttering Funimation

Today, Sony’s anime streaming service Crunchyroll announced that it’s increasing subscription prices as follows:

  • The Mega Fan Tier, which allows streaming on up to four devices simultaneously, will go from $9.99/month to $11.99/month
  • The Ultimate Fan Tier, which allows streaming on up to six devices simultaneously, will go from $14.99/month to $15.99/month

Crunchyroll’s cheapest plan ($7.99/month) remains unchanged. None of Crunchyroll’s subscription plans have ads. Crunchyroll’s also adding discounts to its store for each subscription tier, but this is no solace for those who don’t shop there on a monthly basis or at all.

The news of higher prices comes about a month after Sony shuttered Funimation, an anime streaming service it acquired in 2017. After buying Crunchyroll in 2021, Funimation was somewhat redundant for Sony. And now that Sony has converted all remaining Funimation accounts into Crunchyroll accounts (while deleting Funimation digital libraries), it’s forcing many customers to pay more to watch their favorite anime.

A user going by BioMountain on Crunchyroll said the news is “not great,” since they weren’t “a big fan of having to switch from Funimation to begin with, especially since that app was so much better” than Crunchyroll.

Interestingly, when Anime News Network asked on February 29 whether Crunchyroll would see prices rise over the next two years, the company told the publication that predicting a price change for that time frame would be improbable.

Crunching numbers

Crunchyroll had 5 million paid subscribers in 2021 but touted over 13 million in January, (plus over 89 million unpaid users, per Bloomberg). Crunchyroll president Rahul Purini has said that Crunchyroll is profitable, but not by how much.

In 2023, Goldman Sachs estimated that Crunchyroll would represent 36 percent of Sony Pictures Entertainment’s profit by 2028, compared to about 1 percent in March.

However, Purini has shown interest in growing the company further and noted to Variety in February an increase in “general entertainment” companies getting into anime.

Still, anime remains a more niche entertainment category, and Crunchyroll is more specialized than some other streaming platforms. With Sony making it so that anime fans have one less streaming service option and jacking up the prices for one of the limited options, it’s showing that it wants as much of the $20 billion anime market as possible.

Crunchyroll claimed today that its pricing changes are tied to “investment in more anime, additional services like music and games, and additional subscriber benefits.”

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Xfinity waited 13 days to patch critical Citrix Bleed 0-day. Now it’s paying the price

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MORE CITRIX BLEED CASUALTIES —

Data for almost 36 million customers now in the hands of unknown hackers.

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A parked Comcast service van with the

Enlarge / A Comcast Xfinity service van in San Ramon, California on February 25, 2020.

Getty Images | Smith Collection/Gado

Comcast waited 13 days to patch its network against a high-severity vulnerability, a lapse that allowed hackers to make off with password data and other sensitive information belonging to 36 million Xfinity customers.

The breach, which was carried out by exploiting a vulnerability in network hardware sold by Citrix, gave hackers access to usernames and cryptographically hashed passwords for 35.9 million Xfinity customers, the cable TV and Internet provider said in a notification filed Monday with the Maine attorney general’s office. Citrix disclosed the vulnerability and issued a patch on October 10. Eight days later, researchers reported that the vulnerability, tracked as CVE-2023-4966 and by the name Citrix Bleed, had been under active exploitation since August. Comcast didn’t patch its network until October 23, 13 days after a patch became available and five days after the report of the in-the-wild attacks exploiting it.

“However, we subsequently discovered that prior to mitigation, between October 16 and October 19, 2023, there was unauthorized access to some of our internal systems that we concluded was a result of this vulnerability,” an accompanying notice stated. “We notified federal law enforcement and conducted an investigation into the nature and scope of the incident. On November 16, 2023, it was determined that information was likely acquired.”

Comcast is still investigating precisely what data the attackers obtained. So far, Monday’s disclosure said, information known to have been taken includes usernames and hashed passwords, names, contact information, the last four digits of social security numbers, dates of birth, and/or secret questions and answers. Xfinity is Comcast’s cable television and Internet division.

Citrix Bleed has emerged as one of the year’s most severe and widely exploited vulnerabilities, with a severity rating of 9.4 out of 10. The vulnerability, residing in Citrix’s NetScaler Application Delivery Controller and NetScaler Gateway, can be exploited without any authentication or privileges on affected networks. Exploits disclose session tokens, which the hardware assigns to devices that have already successfully provided login credentials. Possession of the tokens allows hackers to override any multi-factor authentication in use and log into the device.

Other companies that have been hacked through Citrix Bleed include Boeing; Toyota; DP World Australia, a branch of the Dubai-based logistics company DP World; Industrial and Commercial Bank of China; and law firm Allen & Overy.

The name Citrix Bleed is an allusion to Heartbleed, a different critical information disclosure zero-day that turned the Internet on its head in 2014. That vulnerability, which resided in the OpenSSL code library, came under mass exploitation and allowed the pilfering of passwords, encryption keys, banking credentials, and all kinds of other sensitive information. Citrix Bleed hasn’t been as dire because fewer vulnerable devices are in use.

A sweep of the most active ransomware sites didn’t turn up any claims of responsibility for the hack of the Comcast network. An Xfinity representative said in an email that the company has yet to receive any ransom demands, and investigators aren’t aware of any customer data being leaked or of any attacks on affected customers.

Comcast is requiring Xfinity customers to reset their passwords to protect against the possibility that attackers can crack the stolen hashes. The company is also encouraging customers to enable two-factor authentication. The representative declined to say why company admins didn’t patch sooner.

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