Comcast is adding Internet customers, but losing Cable TV customers.

So that would be cutting-the-cord, right?

High-speed Internet, Qtr = 442k Net Additions
Total Customers, Qtr = 372k Net Additions

High-speed internet is where it's at
Let's circle back around to the cable segment, Comcast's most important operation. Cord-cutting gets lots of attention these days, and rightfully so as TV streaming services are hastening the decline of legacy cable TV operations. Comcast said it lost net 671,000 residential and 61,000 business cable TV relationships in 2019, lowering its total to just over 21 million relationships.

I'm always surprised at just how much attention these figures get, though. Cable is undoubtedly on the downhill, but it isn't as if it's ready to completely disappear for Comcast in the near future. Those 21 million relationships are still a big number. Besides, NBCU's Peacock streaming service is landing this year, which is sure to help offset some cable pain via advertising revenue and maybe even some subscription fees.

But here's what should really be grabbing headlines: Comcast's bread-and-butter within the cable communications segment, high-speed internet. It added another net 1.32 million residential and 89,000 business connections in 2019 -- bringing the grand total up to 28.6 million and easily offsetting cable TV losses. The move to broadband internet is the real number to watch here for the foreseeable future, and the growth rates remain healthy.