Charter Adds Video Subs in Q4, YearFirst Full-Year Video Sub Growth in More Than a Decade 2/04/2016 8:45 AM Eastern
Charter Communications added 33,000 basic video subscribers in the fourth quarter and ended 2015 with 11,000 more video customers than it started with, the first time that has happened in more than a decade.
Charter has consistently improved its video subscriber performance in the past several quarters and the fourth quarter gain compares to a loss of 3,000 video customers in the prior year. With Charter's results, the top three publicly traded cable operators all have posted video customer gains in the fourth quarter: Time Warner Cable added 54,000 and Comcast announced yesterday it gained 89,000 video customers. So far only Charter and TWC have reported video-subscriber gains for the full year.
High-speed data customers also grew by 129,000 in Q4 for Charter.
The improved subscriber metrics helped drive healthy financial gains -- revenue rose 6.4% and cash flow increased 7.5% in the quarter.
"Our consumer-focused product and service strategy continued to drive Charter's accelerating customer growth in 2015, including positive video net additions," Charter CEO Tom Rutledge, said in a statement. "Charter remains the fastest growing cable company in the United States because it provides highly-competitive consumer-friendly products at attractive price points, in simple packages, with quality customer service. We look forward to bringing Charter Spectrum to the Time Warner Cable and Bright House footprints following the close of our transactions, offering consumers better products, prices and service, driving greater growth for our new company and our business partners, and creating value for shareholders."