Charter Communications (Nasdaq: CHTR) reported a slightly smaller year-over-year third quarter loss ($95 million versus $1.035 billion) on revenue that increased to $1.76 billion from $1.69 billion a year ago. The company also said it gained 402,400 revenue generating units (RGUs) during the period, a 3.2 percent gain over the previous year and 58,700 more than the second quarter with about 60 percent of all subscribers buying a bundle of services compared to 56 percent a year ago. While the company reported an increase of 41,800 digital video customers, it also noted that 63,800 fewer basic customers were in the fold. In total, Charter now says it serves about 5.2 million customers: 4.7 million basic video, 3.4 million digital video, 3.2 million Internet and 1.7 million phone customers.
The company is, as the results demonstrate, targeting more advanced video and data services through the launch of switched digital video (SDV) and DOCSIS 3.0, President-CEO Mike Lovett said during an earnings conference call.
"The video entertainment business is changing and we're embracing that change," Lovett said during opening remarks. "The number of connected devices in the home is growing as are the sources of content. We believe we're in a unique position to act as a solutions provider to the consumers we serve bringing meaningful new content choices and applications to the living room and beyond."
He further said the MSO is "pursuing several avenues to provide online content" ranging from exclusive live sports via ESPN3.com to its deal with movie service EpixHD.com as well as TV Everywhere, which the MSO launched in trial this summer.
For more:
- see this news release
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