Cable and IPTV in the first quarter of 2014

Cable first quarter 2014How did pay-TV distributors including cable MSOs, IPTV and satellite providers perform in 2014's first quarter? In this earnings summary, we list results for the biggest cable industry players, broken down by distributors, select programmers, vendors and online video providers.

Cable is beginning to see more influence from providers like Ruckus Wireless, which is supplying Wi-Fi gear to Time Warner Cable as it builds added services into its NYC footprint. Online video is a continuing disruptor, with Amazon and Netflix generating the most noise while Google-owned YouTube dominates the short-form video space. And the device market remains in flux as stalwarts like Cisco and Arris compete amid a growing number of streaming device vendors, including Apple, jockeying for position as Amazon launches its Fire TV into the fray.

To compare results in this industry segment, check out our earnings summaries from the fourth quarter of 2013 and the third quarter of 2013. Also, round out your telecom earnings knowledge with more summaries for the current quarter, updated at FierceTelecom and FierceWireless.

PAY TV DISTRIBUTORS

April 22

AT&T (NYSE: T)
AT&T continues to make inroads with U-verse. The company added 200,000 U-verse video subscribers in the first quarter of 2014 and noted that churn for the product is very low. In addition, AT&T touted the fact that U-verse is now a $14 billion annualized revenue stream for the company, growing at almost 30 percent year-over year.
- see our coverage
- and the earnings release

Comcast (Nasdaq: CMCSA)
Comcast's do-everything X1 platform must be doing something right. The country's top MSO says it added 24,000 video customers in the first quarter of 2014, marking the second straight quarter with video customer gains and bucking an industry trend going in the opposite direction.
- see our coverage
- this related story
- and the earnings release

April 24

Verizon (NYSE: VZ)
In the first quarter, Verizon said it added 57,000 FiOS video customers and 98,000 FiOS Internet subscribers. This was down compared to the fourth quarter of last year when the carrier added 92,000 video subs and 126,000 more for Internet. The numbers reflected two Verizon priorities: growing revenue, and moving subscribers from existing copper-based facilities.
- see our coverage
- this related commentary
- and the earnings release

Time Warner Cable (NYSE: TWC)
TWC's focus on its planned Hotspot 2.0 product attracted 148,000 new subscribers in the first quarter--compared to 34,000 who cut the video cord--and is a key element in a TWC challenge to win back a half million DSL customers from telcos by next April, according to CEO Rob Marcus.
- see our coverage
- and the earnings release (.pdf)

April 28

Charter Communications (Nasdaq: CHTR)
Charter lost about 66,000 video subscribers year-over-year in the first quarter and gained about 353,000 broadband subscribers during the same time period, according to a company earnings report.
- see our coverage
- and the earnings release

April 30

Bell Aliant (TSX: BA)
Bell Aliant added 13,400 net new TV subscribers to its FibreOP service in the first quarter thanks in no small part to the carrier's fiber-to-the-home network strategy. FibreOP TV now has 171,400 total subscribers, the greatest majority of Bell Aliant's 189,800 IPTV customer base.
- see our coverage
- and the earnings release

May 2

Shentel (NASDAQ: SHEN)
Mid-Atlantic telecom service provider Shenandoah Telecommunications (Shentel) lost 1,864 video customers year-over-year in the first quarter of 2014 and 44 between end of fourth quarter 2013 and the end of the first quarter 2014, but still reported an overall gain in revenue generating units (RGUs) when it announced first quarter earnings.
- see our coverage
- and FierceTelecom's coverage
- and the earnings release

May 6

Bell Canada (NYSE: BCE)
IPTV service Fibe TV helped Bell Canada offset ongoing declines in its traditional wireline business in the first quarter. Bell Canada added 54,680 net new Fibe TV customers in the first quarter, a 15.2 percent increase over the first quarter of 2013. High-speed Internet net customer additions increased almost four times year-over-year from 3,952 to 15,627 as the carrier ended the quarter with 2.2 million high-speed subscribers.
- see our coverage
- and the earnings release

DirecTV (Nasdaq: DTV)
The DTS provider reported a 4 percent year-over-year revenue improvement in the first quarter when, worldwide, the satellite provider brought in $7.86 billion. But DirecTV's earnings per share fell to $1.09 compared to $1.20 a year previously, below analysts' estimates, as net income fell to $561 million on Latin American headwinds.
- see our coverage
- and the earnings release

May 7

Centurylink (NYSE: CTL)
Cash continued to be somewhat problematic for Centurylink. First quarter core revenues were nearly flat year-over-year at $4.11 billion and operating revenues were up only $4.54 billion from $4.51 billion year-over-year. But the carrier added 24,000 Prism TV customers and 66,000 high-speed data customers to overcome continued declines in legacy services in both consumer and business segments.
- see our coverage
- and the earnings release

Liberty Media (Nasdaq: LMCA)
John Malone's Liberty Media reported a first quarter 2014 operating profit of $155 million, $4 million more than the same period in 2013. That was a 20 percent improvement in revenue, from $1.01 billion to $1.05 billion. Liberty Media also will spin off its cable business holdings, including its 26 percent stake in Charter, a minority investment in Time Warner Cable, and a mobile subsidiary, TruePosition, into a new company called Liberty Broadband.
- see our coverage
- and the earnings release (.pdf)

May 8

Dish Network (Nasdaq: DISH)
The Dish pay TV subscriber universe swelled by 40,000 new customers in the first quarter and now stands at 14.097 million pay TV subscribers, compared to 14.092 during the first quarter of last year. Dish also added about 53,000 net broadband subscribers in the first quarter and now has 489,000. Overall revenue was up year-over-year to $3.59 billion compared to $3.38 billion in 2013, but net income dropped to $176 million compared to the year-ago number of $216 million. Additionally, Chairman Charlie Ergen put to rest rumors that Dish would revive its merger talks with DirecTV.
- see our coverage
- this coverage of Ergen's call
- and the earnings release

Cablevision (NYSE: CVC)
Cablevision sees its expanding Wi-Fi network as a lever to disrupt the current mobile data market and will be aggressive in developing new products that use those strengths, CEO James Dolan said. The Long Island-based cable operator said that its consolidated net revenues were up 4.3 percent to $1.58 billion compared to the first quarter of 2013. Amid all the positives, though, the cable company continued to leak video subscribers, losing 14,000 in the quarter to fall to 2.799 million total video customers.
- see our coverage
- and the earnings release

 

PROGRAMMERS

April 30

Time Warner Inc. (NYSE: TWX)
- visit Time Warner's investor relations page

May 1

Viacom (NYSE: VIA)
Along with news that it will acquire the UK's Channel 5, Viacom announced fiscal second quarter earnings revenues of $3.17 billion; a 1 percent year-over-year increase that the company said reflected "higher affiliate fees and advertising revenues."
- see our coverage
- and the earnings release (.pdf)

May 6

Walt Disney Co. (NYSE: DIS)

Discovery Communications (Nasdaq: DISCA)

May 8

CBS Corp. (NYSE: CBS)

AMC Networks (Nasdaq: AMCX)

 

ONLINE VIDEO PROVIDERS

April 16

Google (NASDAQ: GOOG)
YouTube parent Google said overall first-quarter revenue jumped 19 percent to $15.42 billion. Analysts had projected revenue of $15.54 billion, according to Thomson Reuters. The company's revenue, excluding sales passed on to partners, came in at $12.2 billion in the first quarter, falling short of a projection by analysts for $12.3 billion, according to data compiled by Bloomberg.
- see FierceWireless' coverage
- and the earnings release

April 21

Netflix (Nasdaq: NFLX)
Netflix will increase its monthly streaming subscription price by one to two dollars, "depending on the country," this quarter, CEO Reed Hastings and CFO David Wells wrote in a letter to shareholders this afternoon. The announcement coincided with the release of Netflix's first quarter results, in which the company notched 2.25 million new customers in the United States.
- see our coverage
- and this story
- and the earnings release

April 24

Amazon (NASDAQ: AMZN)
Net sales were up 23 percent for Amazon, but the cost of doing business is eating away at its overall profits, its earnings results for the first quarter revealed. Operational expenses were $19.6 billion, up from $15.9 billion a year ago, and shipping costs jumped 31 percent over 2013 to $1.83 billion. Meantime, its video streams "nearly tripled" compared to the same period last year.
- see our coverage
- and the earnings release

 

TECHNOLOGY VENDORS

April 23

Apple (NASDAQ: AAPL)
Apple posted quarterly revenue of $45.6 billion and quarterly net profit of $10.2 billion, up 5 percent from 43.6 billion in revenue and up from net profit of $9.5 billion in the year-ago quarter. Apple's gross margin was 39.3 percent compared to 37.5 percent in the year-ago period. The results were above Apple's January guidance.
- see FierceWireless' coverage
- and the earnings release

April 30

Ruckus Wireless (NYSE: RKUS)
- see Ruckus' investor page

May 6

Arris (Nasdaq: ARRS)

May 14

Cisco (Nasdaq: CSCO)
Even though sales from its video service provider segment fell 26 percent in its fiscal third quarter, Cisco Systems beat Wall Street analysts' estimates, sending the vendor's stock up in after-hours trading on Wednesday.
- see our coverage
- and the earnings release

May 22

TiVo (Nasdaq: TIVO)
DVR technology company TiVo announced its best quarter for MSO subscriber acquisitions ever, adding 341,000 in Q1 through its various pay-TV partnerships and pushing its total past 4.5 million, an all-time high. TiVo's MSO subscriber base grew by 313,000 in the fourth quarter and it's up 23 percent year-over-year. The company reported service and technology revenue of $86 million for the quarter, up 39 percent from Q1 2013.
- see the earnings release

Cable and IPTV in the first quarter of 2014
Read more on

Suggested Articles

Flex, which Comcast recently made free for its subscribers, is a lot like X1 but not centered on Comcast’s linear video product.

The like and dislike buttons are rolling out today on several devices and platforms.

NEW YORK – Amazon Fire TV Cube’s hands-free Alexa voice controls have already attracted a lot of streaming app partners.