Charter second quarter revenue up, subscribers down

The triple play bundle is serving Charter Communications (OTC BB: CCMM) well, according to second quarter financial data the company released today. Charter said second quarter revenues were up 4.9 percent and that the total average month revenue per basis subscriber increased 9.4 percent to $124.06 "driven by increased sales for the Charter Bundle and advanced services."

Tracking subscribers as revenue generating units (RGUs) that could account for subs taking more than one service, Charter reported 12.9 million RGUs, about 423,900 more than last year or a 3.4 percent increase. The company said about 59.3 percent of its customers subscribe to a bundle, up from 55.4 percent last year.

"When we think about the value proposition that we have with the bundle, really, I think we have a pretty good position despite the (economic) environment that we're in," Charter President-CEO said during an earnings conference call.

That holds true even in some economically challenged areas such as Michigan, which has been particularly hard-hit by the sour economy.

"Michigan is probably one of the best examples. It's been a strong phone and triple play market for us. Obviously they experienced economic challenges earlier on than the rest of the footprint but it's been one of our strongest phone and triple play markets and continues to be," said Ted Schremp, Charter's executive vice president and chief marketing officer.

For more:
- see the earnings release

Related article:
Charter names interim CFO, plots NASDAQ return
Broadband bundles are about value, not just the pipe
AT&T lowers DSL prices to battle subscriber loss

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