April 29, 2022
Charter Communications April 29 reported a first-quarter (ended March 31) loss of 123,000 video subscribers, compared with a decline of 156,000 subs in the first quarter of 2021. The pay-TV operator had 15.7 million residential video customers at the end of the quarter, down from 16 million subs last year.
Charter added 164,000 residential high-speed internet subs compared to 334,000 subs added during the previous-year period. The company ended the quarter with more than 30 million broadband subs — up about 1 million subs from the same period a year ago.
When combined with Comcast, the two pay-TV operators control more than 60 million U.S. broadband households — underscoring their recent partnership to develop new streaming video platforms that could offer consumers cheaper streaming video access to Netflix, Disney+ and HBO Max, among other third-party services.
“We remain focused on our primary goal of driving connected customer and mobile broadband relationship growth,” CEO Tom Rutledge said in a statement. “Our new joint venture with Comcast will allow us to provide a next generation streaming platform that offers new and differentiated direct-to-consumer products to meet demand in a fast-changing video environment.”