Time Warner Cable video subscribers down 306,000 in 3Q 2013
Thursday, October 31st, 2013NEW YORK — Time Warner Cable Inc. (NYSE:TWC) today reported financial results for its third quarter ended September 30, 2013.
Residential video revenue decreased driven by declines in video subscribers and premium network revenue (which was reduced by approximately $15 million of subscriber credits issued in connection with a temporary blackout of Showtime resulting from a dispute with CBS), partially offset by price increases and a greater percentage of subscribers purchasing higher-priced tiers of service.
Residential Subscribers
2012 2013 ------------------------------ ---------------------- 1Q 2Q 3Q 4Q 1Q 2Q 3Q ------ ------ ------ ------ ------ ------ ------ Video 12,468 12,299 12,159 12,030 11,911 11,720 11,414 Net adds (94) (169) (140) (129) (119) (191) (306) Digital video recorder 5,039 5,075 5,083 5,124 5,072 4,950 4,756 Net adds 92 36 8 41 (52) (122) (194) Penetration 52.2% 52.8% 53.4% 53.9% 53.6% 52.9% 52.2%
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