Time Warner Cable residential video subscribers down 7,000 in 3Q 2015

Thursday, October 29th, 2015
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NEW YORK — Time Warner Cable Inc. (NYSE:TWC) today reported financial results for its third quarter ended September 30, 2015.

Residential video net declines were 7,000 – the best third quarter since 2006.

Residential video revenue decreased due to a year-over-year decline in video subscribers, as well as a decrease in average revenue per subscriber primarily the result of lower programming tier and transactional video-on-demand revenue, partially offset by growth in video equipment rental and premium network revenue.

Residential Subscribers

                                                   2014                    2015
                         ------------------------------  ----------------------
                             1Q      2Q      3Q      4Q      1Q      2Q      3Q
                         ------  ------  ------  ------  ------  ------  ------
Video                    11,163  11,011  10,827  10,789  10,819  10,774  10,767
  Net adds                 (34)   (152)   (184)    (38)      30    (45)     (7)

Digital video recorder    4,722   4,674   4,551   4,505   4,480   4,454   4,403
  Net adds                    1    (48)   (123)    (46)    (25)    (26)    (51)
  Penetration             52.1%   51.5%   50.8%   50.2%   49.1%   47.6%   46.5%

Rob Marcus (Chairman & CEO): “In the first nine months of the year, we’ve deployed 2 million new set-tops, all of which run our cloud-based guide, 3.1 million high-definition digital adapters, and over 3 million advanced wireless gateways.”

“…where we’re headed is the ability of customers to access the complete video product without having to rent a set-top box from us, whether they use a Roku or they use ultimately another IP-enabled device.”