Charter video subscribers down 29,000 in 2Q 2014

Thursday, July 31st, 2014 
Charter Communications logo

STAMFORD, Conn. — Charter Communications, Inc. (along with its subsidiaries, the “Company” or “Charter”) today reported financial and operating results for the three and six months ended June 30, 2014.

On July 1, 2013, Charter completed its acquisition of Cablevision’s Bresnan Broadband Holdings, LLC and its subsidiaries (collectively, “Bresnan”). As a result of the acquisition, Charter added cable operating systems in Montana, Wyoming, Colorado and Utah that pass approximately 670,000 homes and serve approximately 375,000 residential and business customers.

As of the end of the second quarter of 2014, Charter had completed 60% of its all-digital initiative. All-digital allows Charter to offer more advanced products and services, and provides residential customers with two-way digital set-tops, which offer higher picture quality, an interactive programming guide and video on demand on all TV outlets in the home. Charter expects to complete its all-digital initiative by year-end 2014.

Residential video customers decreased by 29,000 in the second quarter of 2014, versus a loss of 55,000 in the year-ago period. The improvement in video customer performance was driven by Charter’s increasingly competitive video product, including more HD channels and video on demand offerings, attractive packaging of advanced services, improved selling methods, and enhanced service quality.

Video (thousands)

                                               2012                        2013          2014
                         --------------------------  --------------------------  ------------
                            1Q     2Q     3Q     4Q     1Q     2Q     3Q     4Q     1Q     2Q
                         -----  -----  -----  -----  -----  -----  -----  -----  -----  -----
Customers                4,462  4,393  4,322  4,286  4,261  4,206  4,179  4,177  4,195  4,166
Net Additions/(Losses)      22   (69)   (71)   (36)   (25)   (55)   (27)    (2)     18   (29)
 FY                                           (154)                       (109)