Charter Communications Reports Broadband Subscriber Loss in Competitive Third Quarter

Charter Communications lost broadband subscribers in the third quarter. The cable giant reported a decline of 109,000 internet customers. This follows a similar loss from the same period last year. The results highlight the intense competition in the market.

The company also continued to see a decline in its video customer base. According to Reuters, these trends reflect broader industry challenges. Companies like Charter are navigating a shifting media landscape dominated by new streaming rivals.

Video and Broadband Performance Details

Charter’s video subscriber losses have slowed significantly. The company lost 70,000 pay TV customers this quarter. That compares to a loss of 294,000 in the third quarter of 2023.

The broadband loss of 109,000 users was nearly identical to last year’s figure. Total revenue for the quarter was $13.67 billion. This represents a slight decrease from the previous year.

Strategic Moves and Market Impact

The company is making strategic moves to bolster its position. In May, Charter unveiled a massive $34.5 billion deal with Cox Communications. This combination aims to create a larger cable giant with more scale.

The goal is to better compete with tech giants in video and advertising. The deal is pending regulatory approval. It signals a major consolidation within the traditional cable industry.

The latest subscriber numbers underscore the persistent pressure on legacy cable providers. Charter Communications is navigating this transition by focusing on strategic mergers to secure its future in a crowded marketplace.

Info at your fingertips

How many broadband subscribers did Charter lose?

Charter lost 109,000 broadband subscribers in the third quarter. This figure is almost identical to the loss it experienced in the same period last year. The trend indicates ongoing challenges in the internet service market.

Did Charter lose more TV or broadband customers?

Charter lost more broadband customers than TV customers this quarter. It lost 109,000 broadband subscribers compared to 70,000 video subscribers. However, the rate of video subscriber losses has slowed down considerably.

What was Charter’s total revenue for the quarter?

Third-quarter revenue reached $13.67 billion. This was a slight decrease from the $13.79 billion reported a year ago. The dip was attributed to lower video and advertising sales.

What is the significance of the Cox Communications deal?

The deal aims to combine Charter and Cox into a larger entity. This would provide greater scale to compete with tech giants. The combined company would be stronger in broadband and advertising.

Why are cable companies losing subscribers?

Cable companies face stiff competition from streaming services. Rivals like YouTube TV offer more flexible options. Consumers are also cutting traditional pay-TV cords to save money.