Comcast Corp. (CMCSA), the largest cable multi service operator in the U.S. has decided to suspend the much-hyped Xfinity Streampix Service. Streampix was a subscription based on-demand video streaming service.
This was an enhancement of the company’s pay-TV offerings, which provide traditional TV shows and Xfinity on-demand shows for TV sets and broadband devices. Xfinity Streampix offers instant movie viewing both in and outside homes on multiple platforms like TV sets, computers, and mobile devices.
In a recent filing with the Federal Communications Commission, Comcast stated that the primary reason behind discontinuing this service is poor response from subscribers. Launched in 2012, Comcast was offering Streampix service for $4.99 per month. However, subscribers have voiced grievances stating that Comcast’s online video library failed to meet expectations.
Nevertheless, TV streaming service is gradually gaining popularity in the U.S. We believe that the growing deployment of super fast 4G LTE wireless technology and significant adoption of portable mobile devices are the primary reasons behind the popularity of Internet TV. Several mid-sized US cable TV operators have added Netflix service on their set-top boxes.
Meanwhile, DISH Network Corp. (DISH) has postponed the launch of its Internet TV service from mid-2014 to the end of this year. Verizon Communications Inc. (VZ) purchased the unsuccessful Internet TV platform of Intel and is currently negotiating with several content providers to live stream their shows. Verizon is scheduled to launch this service from mid-2015.
Likewise, AT&T Inc. (T) has entered into a partnership with Chernin Group to offer Internet TV services by the end of this year. The company will invest over $500 million in this venture.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment