Comcast has reported its largest loss of broadband subscribers in years, with over 500,000 accounts dropped across the past three quarters as of Q2 2025.

The Philadelphia-based telecom and media company, which provides internet to nearly 30 million US households, is facing increased competition from wireless providers like T-Mobile, AT&T, and Verizon, who collectively added more than 900,000 fixed-wireless accounts in Q2.

Comcast has responded by bringing in new management, launching new internet pricing plans with a 5-year price guarantee, and promoting its wireless phone service, which added a record 378,000 new lines last quarter.

Cable-TV customers have also continued to decline, now totaling 11.8 million—less than half of the company’s 2008 peak—as more consumers switch to streaming services.

Comcast plans to spin off several cable-TV networks later in 2025, after which its growth businesses, including broadband, are expected to make up 65% of revenue.

🔗 Source: Bloomberg

🧠 Food for thought

1️⃣ Broadband losses mark reversal of Comcast’s decade-long growth strategy

Comcast’s current subscriber losses represent a significant shift from its successful transformation over the past decade.

By 2017, the company had already transitioned from primarily being a cable TV provider to having 25.1 million broadband subscribers compared to 22.5 million TV subscribers, making it the largest broadband company in the U.S.1.

This shift was part of a longer trend. As early as 2015, Comcast’s subscriber growth was driven primarily by high-speed internet, while video subscribers were already declining2.

The current streak of record losses marks the end of broadband’s role as Comcast’s primary growth engine, forcing the company to rethink its business model after years of relying on internet services to offset cable TV cord-cutting.

2️⃣ Fixed wireless competition has fundamentally altered the broadband landscape

The emergence of T-Mobile as a broadband competitor demonstrates how quickly wireless carriers have disrupted traditional cable dominance.

T-Mobile alone captured 58% of the U.S. fixed wireless access market and added 405,000 high-speed internet customers in Q1 20253.

This success reflects a broader industry shift, with the three major wireless operators collectively targeting approximately 119 million fiber locations for future expansion4.