Comcast video subscribers down 144,000 in 2Q 2014
Tuesday, July 22nd, 2014Video Customer Net Losses Declined to 144,000; The Best Second Quarter Result in Six Years
PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA, CMCSK) today reported results for the quarter ended June 30, 2014.
Cable Communications
Customer relationships decreased by 25,000 to 26.8 million during the second quarter of 2014, a 62% improvement compared to a decline of 66,000 during the second quarter of 2013. At the end of the second quarter, penetration of our triple product customers increased to 36% compared to 34% in the second quarter of 2013. High-speed Internet customer net additions improved versus last year and were the strongest for a second quarter in six years. Video customer net losses improved year-over-year and were also the best result for a second quarter in six years.
Video (in thousands)(1)
2012 2013 2014 ------ -------------------------------------- -------------- FY 1Q 2Q 3Q 4Q FY 1Q 2Q ------ ------ ------ ------ ------ ------ ------ ------ Video Customers(2) Billable Customers Method 22,844 22,819 22,658 22,531 22,577 22,577 22,601 22,457 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 (144) 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 12,730 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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