Time Warner Cable video subscribers down 217,000 in 4Q 2013
Thursday, January 30th, 2014NEW YORK — Time Warner Cable Inc. (NYSE:TWC) today reported financial results for its fourth quarter and full year ended December 31, 2013.
For both the fourth quarter and full year, residential services revenue growth was primarily driven by an increase in high-speed data revenue, partially offset by declines in video and voice revenue.
Residential video revenue decreased, driven by declines in video subscribers and premium network revenue (which, for the full year of 2013, was reduced by approximately $15 million of subscriber credits issued in the third quarter in connection with a temporary blackout of Showtime resulting from a dispute with CBS) and lower transactional video-on-demand revenue, partially offset by price increases and a greater percentage of subscribers purchasing higher-priced tiers of service.
Operational Highlights
TWC’s first generation cloud-based guide with an advanced VOD portal was installed on 2.8 million set-top boxes at year end.
As of December 31, 2013, TWC’s video customers had access to 183 HD channels on average.
The TWC TV® app is now available on the Amazon Kindle Fire™ platform, in addition to Apple™ iOS and Android™ tablets and smartphones, Roku™ Streaming Players, Samsung™ Smart TVs and Xbox 360™ video game consoles, and on PC and Mac computers. TWC TV® features up to 300 linear channels and over 4,000 hours of VOD programming on all TWC TV® app platforms in the home and up to 24 live channels and 1,200 hours of VOD content from 40 networks outside of the home.
Residential Subscribers
2012 -------------------------------------- 1Q 2Q 3Q 4Q FY ------ ------ ------ ------ ------ Video 12,468 12,299 12,159 12,030 Net adds (94) (169) (140) (129) (532) Digital video recorder 5,039 5,075 5,083 5,124 Net adds 92 36 8 41 177 Penetration 52.2% 52.8% 53.4% 53.9% 2013 -------------------------------------- 1Q 2Q 3Q 4Q FY ------ ------ ------ ------ ------ Video 11,911 11,720 11,414 11,197 Net adds (119) (191) (306) (217) (833) Digital video recorder 5,072 4,950 4,756 4,721 Net adds (52) (122) (194) (35) (403) Penetration 53.6% 52.9% 52.2% 52.0%
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