Per Bloomberg, Comcast has negotiated rights from the owners of cable companies to broadcast their video services outside of its regional territories. The effort can be seen as a first step towards potentially building an over-the-top (OTT) TV streaming service one day that could compete with the likes of it's pay-TV competitors, primarily Dish Network's SlingTV and Apple Inc.'s DirectTV.
Why it matters: Comcast tells Bloomberg that in the short-term, this isn't a revenue-driving business model, but it's hard not to imagine a world in which Comcast wouldn't be thinking about moving into the streaming space. Per Nielsen, 29% of all U.S. homes own enabled smart TVs and 23% own an digital streaming device. By the end of last year, Sling TV is now being used in nearly two million households, according to comScore.