Netflix is Bigger Than Comcast, in Terms of Subscribers

Subscriber counts aren't everything in the video business. Netflix has more subscribers than Comcast, but makes vastly less revenue from each customer. Comcast has average revenue per user an order of magnitude higher than Netflix.

On the other hand, subscriber density or mass does create a marketing platform for any future video subscription business. And Comcast executives essentially have taken themselves out of the "over the top" business outside their own current geographies.

But customer relationships also are the reasons why firms such as Amazon can never be discounted as new video subscription opportunities arise.