Comcast struggles as theme parks, movies, and sports suddenly disappear

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Illustration by Alex Castro / The Verge

With theme parks and movie theaters closed and major sports events canceled, there were few parts of Comcast’s business that didn’t feel the impact of the novel coronavirus pandemic in the first quarter of 2020. And company executives said on Thursday that they don’t expect to see a whole lot of improvement for the second quarter.

Comcast posted revenue of $26.6 billion for the first quarter, a 0.9 percent decline year over year, and net income of $2.1 billion, a 40 percent drop from the year-ago quarter.

Basically, there was less for viewers to watch, and that meant less programming for Comcast to run ads against. The Q1 results reflect “audience ratings declines and reduced advertiser spending resulting from the postponement of sports...

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source https://www.theverge.com/2020/4/30/21242508/comcast-loses-cable-subscribers-coronavirus

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