Comcast adds 24,000 billable video customers in 1Q 2014
Tuesday, April 22nd, 2014Video Customers Increased by 24,000, the Second Consecutive Quarter of Customer Growth
- Increased HD and/or DVR customers to 12.6MM; now 56% of Video customers vs. 53% in 1Q13
PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA, CMCSK) today reported results for the quarter ended March 31, 2014.
Cable Communications
Customer relationships increased by 124,000 to 26.8 million in the first quarter of 2014. At the end of the first quarter, penetration of our triple product customers increased to 36% compared to 33% in the first quarter of 2013. In addition, video, high-speed Internet and voice customers increased.
Video (in thousands)(1)
2012 2013 2014 ------ -------------------------------------- ------ FY 1Q 2Q 3Q 4Q FY 1Q ------ ------ ------ ------ ------ ------ ------ Video Customers(2) Billable Customers Method 22,844 22,819 22,658 22,531 22,577 22,577 22,601 EBU Method 21,995 21,935 21,776 21,647 21,690 21,690 Video Net Additions (Losses) Billable Customers Method (25) (162) (127) 46 (267) 24 EBU Method (336) (60) (159) (129) 43 (305) Advanced Services Customers(3) Billable Customers Method 11,801 12,074 12,128 12,233 12,533 12,533 12,634 EBU Method 11,755 12,027 12,078 12,149 12,413 12,413
1. Beginning with its 2014 fiscal year, Comcast Corporation revised its methodology for counting customers in its Cable Communications segment. The new methodology (the “Billable Customers Method”) relates to how we count and report customers who reside in multiple dwelling units (“MDUs”) that are billed under bulk contracts. For MDUs whose residents have the ability to receive additional cable services, such as additional programming choices or our HD and DVR services, we now count and report customers based on the number of potential billable relationships within each MDU. For MDUs whose residents are not able to receive additional cable services, the MDU is now counted as a single customer. Previously, we had counted and reported these customers on an equivalent billing unit (“EBU”) basis by dividing the monthly revenue received under an MDU’s bulk contract by the standard monthly residential rate where the MDU was located (the “EBU Method”). We have reported Video Customer information using both the old and new methodologies for 2013.
2) Customer metrics include our residential and business customers.
3) Advanced Services Customers subscribe to DVR and/or HDTV services. Full year 2012 amount includes an adjustment for an additional 276,000 Advanced Services Customers not previously reported.
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