Charter TV Subscriber Losses Narrow to 21,000 in Second Quarter
Charter Communications lost 21,000 pay-TV customers in the second quarter, a marked improvement on the 80,000 lost a year earlier, although it also saw broadband customer losses widen. The figures underline the pressure on traditional cable operators from streaming services and other digital competitors, even as Charter seeks to strengthen its combined internet, television and mobile offering.
The company lost 172,000 internet customers, compared with 117,000 a year earlier, but added 406,000 mobile lines. It ended the quarter with 12.52 million pay-TV customers, down 0.8% year on year; revenue fell 0.7% to $13.5 billion, while net income rose 5.7% to $1.29 billion. Charter expects its $34.5 billion merger with Cox Communications to close in mid- to late August, with projected cost synergies initially worth about $800 million.
- Charter’s TV subscriber losses narrowed sharply to 21,000.
- Broadband losses widened despite strong mobile additions.
- Cox merger is expected to close in August.