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New Comcast packages, box, stem losses
Associated Press

NEW YORK — Comcast is trumpeting its best year for traditional TV services in nearly a decade, even though it continues to lose TV subscribers.

The number of traditional TV customers is still declining across the industry, and analysts say Comcast’s TV gains are largely coming from competitors, like AT&T and Dish, rather than young new cable customers who have never paid for cable before.

Comcast says it is stemming its losses by luring customers with new TV-Internet packages, while keeping TV customers around for longer with the help of a fancier cable box. The company also says recent investments in customer service, long a blemish on its reputation, have helped.

Comcast said Wednesday that it added 89,000 TV customers in the last three months of 2015, which it said was its best quarter since the October-December period of 2006. For the full year, Comcast lost 36,000 TV customers, the smallest drop since its annual string of TV customer losses that began in 2007.

Other cable companies are improving, too, even as cable bills rise overall and people spend more time watching video online. Time Warner Cable posted a small gain of 32,000 TV customers for 2015, the first year it’s added TV subscribers since 2006.

Morgan Stanley analyst Ben Swinburne says cable companies are getting a boost from their relatively fast Internet offerings and from skinny bundles — cheaper packages with fewer TV channels.

Comcast’s skinny bundles include Internet Plus — local TV stations, the Internet and HBO — and a service called Stream, which delivers channels over the Internet without needing a cable box.

Comcast is still rolling out its updated X1 cable box, which the company says has helped it hold on to customers longer. X1 users also tend to spend more on extra DVRs, meaning more money for Comcast.