Comcast Is Just Not That Into You, Netflix

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The country’s largest cable company Comcast (NASDAQ:CMCSA) has announced that it has no interest in offering Netflix (NASDAQ:NFLX) to its Xfinity subscribers, regardless of whether it’s in the form of an on-demand service or a billing partnership. Netflix has been contacting major cable companies in an attempt to reach partnership agreements, but has been unsuccessful in negotiations. Without a partnership with Comcast, the country’s largest cable provider, deals with other major cable companies would be limited. Netflix has transformed itself from a potential threat to cable companies to a premium cable channel that no one seems to want.

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Netflix is looking to make its service available as part of the monthly cable bill and increase its subscriber base by striking a deal with cable companies. But Comcast simply isn’t interested. The cable company giant already offers its 22.3 million Xfinity subscribers a Netflix-like streaming service in Streampix, which allows customers to stream 75,000 television shows and movies on multiple devices in and outside of the home. More importantly, Streampix service starts at $4.99 and is available as a part of some high-end cable packages. Meanwhile, Netflix is still available for $7.99 a month.

According to media analysts, the appeal of a partnership with Netflix is diminishing as many satellite and phone companies are launching their own Netflix-like services. Comcast’s competitor Dish Network (NASDAQ:DISH) is working with Blockbuster to develop a streaming service, while Verizon (NYSE:VZ) has teamed up with Redbox (NASDAQ:CSTR) on their own streaming joint venture as well.

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To contact the reporter on this story: Diallah Haidar at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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