Comcast reported its NBC-owned television stations, like WTVJ, had a whopping 18.5% revenue decline in the first quarter of 2013 compared to Q1 2012. Contrast that with WPLG parent company Post-Newsweek reporting today a 5% Q1 revenue increase, and Fisher Communications in Seattle, reporting 12% increase. Comcast blame the decline on NBC’s low ratings, which placed the network in 5th place behind Univision and even the CW on some nights. So do not be surprised if you hear NBC wants to increase the monthly fee on cable and satellite TV subscribers.
And it gets even worse. 60,000 households became cord cutters – the ones that quit cable TV altogether. That is 62% worse than first quarter of 2012. Put another way, the pace of people cutting their pay TV subscribtions may be accelerating. Perhaps this explains the persistent calls I got two weeks ago when we canceled our Comcast TV service.
Comcast reported an overall increase in earnings of 17.4% to $1.44 billion, but that’s only because cable bills for 72% of its subscribers have gone up.
GE are looking at this news and probably laughing they finally got rid of NBC before it got worse.