Comcast, operating as Xfinity, faces challenges losing cable TV and internet customers amid rising competition. Recent earnings reveal a 5.6% decline in cable revenue due to 245,000 lost customers and a 1% broadband revenue drop from 181,000 lost internet customers.

The trend of cord-cutting continues as consumers opt for streaming platforms over traditional cable and satellite services. Comcast’s efforts to retain customers include revamping internet offers, introducing price lock guarantees, and offering free mobile lines to internet subscribers.

Comcast CEO Brian Roberts acknowledges unprecedented competition in the industry, emphasizing the need to enhance customer experience and simplify offerings. The company plans to invest heavily in revamping its internet business to migrate customers to new pricing and packaging by year-end.

Comcast’s strategy includes offering free phone lines to internet customers to boost convergence revenue and increase customer loyalty. The company aims to convert free lines into paying relationships, expecting significant growth in convergence revenue as a result.

Despite efforts to retain customers, Comcast faces challenges in consumer satisfaction compared to competitors in the wired and wireless internet sectors, according to a J.D. Power survey. Wireless internet providers outperform wired internet providers in customer satisfaction and service performance.

AT&T and Comcast are both focusing on bundling internet and phone services to retain customers. AT&T expects annual wireless service revenue growth, while Comcast faces pressure on earnings due to repricing efforts in its internet business.

Comcast aims to address the evolving internet landscape by improving customer satisfaction and service performance. The company faces competition from Verizon, Cox Communications, AT&T, GFiber, and others in different regions, according to the J.D. Power survey.

Read more at Yahoo Finance: Comcast hopes bold offer will lure back frustrated customers