Charter Loses 123,000 Pay-TV Subscribers, But That’s An Improvement

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Traditional cable TV industry, already grappling with challenges, saw further strain as Charter Communications continued to shed broadband and video subscribers in the fourth quarter.

By the end of 2024, our company had shed approximately 177,000 broadband customers, leaving us with a total of 30.1 million subscribers. This decrease was mirrored by Comcast reporting a day prior that they lost 139,000 domestic broadband customers in the fourth quarter of 2024.

Our company ended 2024 with around 177,000 fewer broadband customers than at the start, giving us a total of 30.1 million subscribers. This decline is similar to Comcast’s report from the day before stating they lost 139,000 domestic broadband customers during the fourth quarter of 2024.

In the last quarter, Spectrum, a company that operates under this brand name, experienced a decrease of 123,000 video subscribers, which is significantly fewer than the 257,000 customers lost in the same period the previous year. By the end of 2024, they had 12.9 million subscribers remaining. This decline was partially caused by the effects of hurricanes and the conclusion of government subsidies through the Affordable Connectivity Program for low-income households.

The charter will disclose how the latest wildfires in Los Angeles have affected its network operations and California-based customers during the current quarter’s financial report.

Traditional cable companies like Charter, Comcast, and others are encountering growing competition from streaming platforms such as YouTube and their contemporaries, in an effort to attract and retain television viewers. In the recent quarter, Charter managed to acquire 529,000 mobile service subscribers, a slight decrease compared to the 546,000 new customers they gained during the same period last year. Currently, Charter provides services for approximately 9.9 million mobile lines, with an addition of 2.1 million lines in the previous year.

As a dedicated follower, I’m thrilled to share that our fourth-quarter earnings saw a 1.6% increase, reaching an impressive $13.9 billion! A significant portion of this growth can be attributed to increased political revenue. Additionally, our net income for the three-month period amounted to a robust $1.5 billion for the shareholders.

Looking ahead to 2025 and beyond, the market for broadband, mobile, and video remains challenging, but we have a clearer picture than we did a year ago according to Chris Winfrey, CEO of Charter. He shared this during a Friday call with analysts as his company prepares to offer new bundles of mobile, video, and internet services to enhance subscriber value.

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2025-01-31 16:54