In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
The huge amount of float that Comcast is generating indicates that a lot of Americans are still paying their cable bills every month. There’s also some statistical evidence out there that indicates the level of cord cutting has been greatly exaggerated.
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An even more bothersome question is why was the tape not released during the Republican primary? Was somebody sitting on it so that the Grand Old Party would be saddled with a lousy candidate whom Hillary could easily beat?
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It looks as if pay TV’s customer base is slowly disappearing but the strange thing is the industry seems to be making more money than ever. Financial data provided by ycharts indicates that cord cutting is not hurting revenues, cash flow and income at Pay TV providers.
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In a related move Hulu is planning to pull the plug on its free streaming service, Variety reported. Instead the service owned by a consortium of Time Warner (NYSE: TWX), The Walt Disney Company (NYSE: DIS), Comcast and 21st Century Fox will only offer $7.99 and $11.99 monthly subscriptions.
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Therefore, cable companies will continue to generate float and remain a decent value investment for some time to come. If you are looking for a fairly safe and cheap way to cash in on the digital entertainment revolution, cable could be it. Cablevision and Comcast, in particular, look undervalued.
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