Netflix ready to pass Comcast as number 1 subscription service
Comcast (Nasdaq: CMCSA), arguably the number one pay TV service provider in the U.S.--according to subscriber numbers--could drop a notch when Netflix (Nasdaq: NFLX) announces its first quarter earnings later today.
The over-the-top video purveyor is expected to say that it's added 3.7 million subscribers. If that's the case, it will have 23.7 million people on its subscriber roles, easily surpassing Comcast (22.8 million) as the number one pay TV provider. Ominously, at least if Comcast is concerned about subscriber figures, a Hollywood Reporter story also suggests that Sirius XM, the satellite radio service, could be jostling with the MSO for the number two spot in the hearts and minds of those who pay for their entertainment.
BMO Capital Markets analyst told the Reporter that Netflix is now streaming eight times more movies than Comcast and, since moving onto game consoles "we expect subscriber growth to remain elevated."
- Digital Trends has this story