TWC residential video subscribers up 21,000 in 1Q 2016

Video net additions of 21,000

NEW YORK — Time Warner Cable Inc. (NYSE:TWC) today reported financial results for its first quarter ended March 31, 2016.

Residential Services

Growth in residential video revenue was the result of an increase in average revenue per subscriber and growth in video subscribers. The increase in average revenue per subscriber was primarily the result of growth in video equipment rental and premium network revenue, partially offset by lower transactional video-on-demand, programming tier and DVR service revenue.

Residential Subscribers

                                                   2015    2016
                         ------------------------------  ------
                             1Q      2Q      3Q      4Q      1Q
                         ------  ------  ------  ------  ------
Video                    10,819  10,774  10,767  10,821  10,842
  Net adds                   30    (45)     (7)      54      21


Digital video recorder    4,480   4,454   4,403   4,408   4,392
  Net adds                 (25)    (26)    (51)       5    (16)
  Penetration             49.1%   47.6%   46.5%   45.9%   45.2%