Comcast has unveiled the Xfinity StreamSaver bundle, offering a discounted package of Netflix, Peacock and Apple TV+ as a way to solidify its customer base.
The new bundle, available nationwide next week, will cost Xfinity internet customers and TV customers an additional $15 per month.
The StreamSaver bundle offers Netflix Standard with ads, Peacock Premium, and Apple TV+ at a savings of over 30%, or nearly $100 annually. Customers can also combine StreamSaver with NOW TV, which includes 40+ streaming channels, for a total of $30 per month.
Dave Watson, CEO of Connectivity and Platforms at Comcast, highlighted the value StreamSaver brings to consumers.
“StreamSaver is a homerun for consumers who want top-tier entertainment and live sports, and for our world-class partners Peacock, Netflix, and Apple who benefit from the reach and depth of our entertainment platforms and Xfinity’s marketing engine,” Watson said in a statement.
The launch of StreamSaver comes at a critical time for Comcast, as the company faces significant challenges in retaining its subscriber base.
According to CNBC, Comcast revealed a loss of 65,000 broadband customers and 487,000 cable TV customers in the first quarter of 2024. Despite these losses, Comcast managed to beat earnings estimates, reporting a 1.2% revenue increase to $30.06 billion, driven by rate hikes.
Comcast has been impacted by the ongoing trend of cord-cutting, with many consumers shifting from traditional cable TV to streaming services. The average cable TV bill costs up to $145 per month.
Streaming services are more flexible and often cost less, and people are shifting into more than just streaming services like Netflix. More than 23 million households are using a TV antenna for local broadcast channels, according to Nielsen.
This shift has resulted in substantial subscriber losses for Comcast and other cable providers.
Adding to its challenges, Comcast has been in a standoff with Bally Sports, affecting millions of sports fans. The dispute, which began in 2023, centers on contract negotiations between Comcast and Bally Sports’ parent company, Diamond Sports Group. As a result, Bally Sports channels are currently unavailable on Comcast, leaving fans of 12 Major League Baseball teams without access to their local games.
Despite these hurdles, Comcast remains optimistic about its future.
The company’s wireless business saw a 21% increase in customers during the quarter, reaching 6.9 million total lines. Additionally, Peacock, Comcast’s streaming service, added three million subscribers, bringing its total to 34 million. Executives expect Peacock’s losses to narrow in upcoming quarters, especially with the upcoming Paris 2024 Olympics, which is expected to drive growth and advertising revenue.
Comcast’s NBCUniversal is also vying for NBA rights as part of a $2.5 billion per year offer that could bring pro basketball games to NBC and Peacock.
My concern when I looked into it, it seems like the rate is temporary. Discounted by 30 dollars. I would love to switch but I don’t trust that it won’t double its fee in the near future.