Comcast chief financial officer Mike Cavanagh announced that the Philadelphia-based telecom giant plans to invest $2 billion in NBCUniversal’s streaming service Peacock during 2020 and 2021, with the expectation that it won’t be profitable for five years. Cavanagh, who spoke at the UBS Global TMT Conference in New York City, added that the spending will represent, at its height, only about 1 percent of Comcast’s annual revenue. Comcast pay-TV subscribers will have free access to Peacock, scheduled to debut in April 2020. Continue reading Comcast to Invest $2 Billion in Peacock Streaming Service

New York-based cable provider Altice USA is planning to compete in the crowded wireless market by launching a new mobile service that offers consumers unlimited data at a $20-$30 monthly price point per phone, according to individuals familiar with the plans. Employees will test the new service, likely to be named Altice Mobile, in the coming weeks, with plans for a summer launch. The company will be joining cable rivals Charter and Comcast in offering wireless deals to subscribers. Cable providers are hoping that offering wireless service will discourage their customers from cord-cutting. Continue reading Cable Providers Hope Wireless Deals Will Curb Cord-Cutting

On its official Xfinity Mobile website, Comcast is now allowing its Xfinity Internet customers to sign up for the service at a discounted rate of $45 per month. The regular price will be $65 per month for unlimited mobile service. Xfinity Mobile was unveiled in April and will roll out to stores over the coming months throughout Comcast’s current markets. The service runs on top of Verizon’s network, but access to Comcast’s 16 million Wi-Fi hotspots means users will automatically be switched over to Wi-Fi when available. Continue reading Comcast Rolls Out Xfinity Mobile, With Streaming TV Service