The cord-cutting continues at cable providers, but Comcast (Nasdaq: CMCSA) isn't going down without a fight.
The country's largest cable company is introducing the Xfinity TV app for Apple's (Nasdaq: AAPL) iPad this week.
Like other apps being cranked out by cable, satellite, and broadband television rivals, the program will transform Apple's popular tablet into a touchscreen device capable of spitting out TV listings and program Comcast DVRs.
However, the real treat comes next month, when Comcast's digital television subscribers will be able to watch movies and shows through the Xfinity TV app on their iPad. No matter where an iPad owner goes, Comcast content can stream as long as they have an online connection.
It's not just an iPad treat. Comcast's development team is working on similar apps for Apple's smaller iPhone and iPod touch devices, as well as options for owners of gadgetry powered by Google's (Nasdaq: GOOG) Android and Research In Motion's (Nasdaq: RIMM) BlackBerry.
Comcast needs this. It closed out its third quarter with just 22.9 million video customers, 822,000 fewer than it watched over a year ago. At this pace, Netflix (Nasdaq: NFLX) will overtake Comcast to become the country's most popular premium television service next year.
Netflix has grown in popularity, keeping churn in check by growing its digital catalog that is made freely available to subscribers on unlimited DVD plans. Comcast and other cable giants are following suit, hoping to give subscribers more incentives to stick around that don't involve slashing their cable bills.
It's not just Comcast losing cable television accounts. Time Warner Cable (NYSE: TWC) and Cablevision (NYSE: CVC) also shed net subscribers in their latest quarters.
One can argue that the cable giants deserve the defections. Cablevision rakes in an average of $149 a month from its cable television customers. More and more couch potatoes are going to realize that they're not watching as much traditional television as they used to, given the popularity of streams through Google's YouTube and Netflix.
Comcast is trying to get ahead of the defections with a promising Xfinity TV app. Unfortunately, the best that Comcast can hope for is that it slows down the cancellations. Cord-cutters are growing in number, and they seem to be doing just fine without cable.
Will convenient and portable streaming save the cable industry? Share your thoughts in the comment box below.
