October 26, 2018
Charter Communications Oct. 26 disclosed it lost 66,000 video subscribers in the third quarter, ended Sept. 30, and improvement from 104,000 video subs lost in the previous-year period.
The nation’s third largest pay-TV operator (after acquiring Time Warner Cable and Bright House Networks) attributed the reduction to sales of standalone online TV service Spectrum TV Streamand Spectrum TV Choicevideo packages. It ended the period, however, with 16.1 million video subs – down 258,000 subs from 16.39 million reported last year.
“At the end of 2018, our integration of legacy TWC and Bright House will be largely complete, and we will operate as a single company, with a superior product and value proposition,” CEO Tom Rutledge said in a statement.“With significantly less customer-facing change in 2019, we expect continued improving service metrics with higher demand and retention, faster growth and falling capital intensity, driving meaningful free cash flow growth.”
Indeed, Charter added more than 1 million high-speed broadband customers in the past 12-month period, ending the quarter (266,000 net additions) with 23.3 million.