Finance

Video Losses Ease at Charter in Q2

Operator completes Spectrum pricing, packaging, branding rollout 7/27/2017 10:06 AM Eastern

Charter Communications shed about 90,000 residential video customers in the second quarter, an improvement over the same period last year when it shed 152,000 subscribers, an indication that integration issues attributed to its former Time Warner Cable systems are beginning to ease up.

Charter had blamed past video losses on the expiration of heavy promotional discounts at the former TWC systems. In announcing second quarter results, Charter said it finished the roll-out of its Spectrum pricing, packaging and brand across legacy TWC and Bright House residential footprints with the launch of Spectrum in Hawaii in June.

“With the rollout of our new pricing and packaging completed in June, we are now offering a simple, high value product across our 50 million passings, under one brand, Spectrum. That product is working in the marketplace, and we continue to see higher year-over-year customer connect volumes across our new footprint,” said Charter chairman and CEO Tom Rutledge in a statement. “As we move forward with our integration, more of our customers are getting better products at better prices, which will drive higher customer satisfaction, lower churn and greater value into our business.”

Charter ended the quarter with 243,000 more primary service units (a mixture of video, voice and data customers), fueled by an increase of 236,000 residential high-speed data customers (up from 231,000 in the prior year).  

Revenue for the period increased 3.9% to $10.4 billion and cash flow grew 8.6% to $3.8 billion.

 

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