Charter Lost 686,000 Spectrum Video Subs in 2022
January 27, 2023
Charter Communications Jan. 27 said it lost 145,000 Spectrum pay-TV subscribers in the fourth quarter (ended Dec. 31, 2022). The cable TV operator ended the year with 15.1 million residential and small business video subs — down 686,000 subs from 15.8 million at the end of 2021. Charter added 33,000 small business video subs to end the year with 650,000.
As with other multiplatform video distributors, Charter is also an internet service provider. The company added y 92,000 high-speed internet (or broadband) customers, which was down from an increase of 172,000 broadband subscribers in the previous-year period. Charter ended the year with 30.4 million broadband subs, up from 30 million at the end of 2021.
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“We continued to execute well in 2022, growing customer relationships, revenue and pre-tax earnings,” new CEO Chris Winfrey said in a statement.
Last November Charter and Comcast announced that their joint streaming video venture would adopt the Xumo name, evolving the brand from a free ad-supported streaming TV (FAST) service to an entertainment ecosystem inclusive of streaming devices, content, and a platform for proprietary and third parties to reach audiences at scale.
Charter was one of the first pay-TV operators to offer standalone Spectrum TV streaming service to broadband-only subscribers, which included a free Roku video device.