Time Warner Cable video subscribers down 306,000 in 3Q 2013

NEW 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%