Comcast Introduces Streaming Service to Existing Video Customers

Comcast Corp. (CMCSA), the largest U.S. cable company, will debut a service streaming television shows and movies to current customers that competes with Internet and video rivals.

Xfinity Streampix, available Feb. 23, complements the 75,000 shows and films Comcast already offers consumers that subscribe to both TV and Internet service through Xfinity On Demand, according to an e-mailed statement. For some users, including those that don’t purchase broadband from Comcast, the package will cost an additional $4.99 per month.

“This is about adding value to our existing multi-channel subscription,” Marcien Jenckes, general manager of video services at Philadelphia-based Comcast, said in a telephone interview today. There are no plans to offer the service to non- customers, he said.

The cable provider has licensing agreements with companies including Walt Disney Co. (DIS), Sony Corp. (6758)’s Sony Pictures and Time Warner Inc. (TWX)’s Warner Bros. to offer the new service.

Comcast fell 0.3 percent to $29.07 at 1:22 p.m. New York time. The shares rose 23 percent before today.

To contact the reporter on this story: Alex Sherman in New York at asherman6@bloomberg.net

To contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.net

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