Time Warner Cable Churn Continues to Plague Charter

Churn at legacy Time Warner Cable systems continued to dog Charter Communications in the first quarter, with continued losses at those properties making up the bulk of the 100,000 residential video customer losses for the full company in the period.  

Legacy Charter systems actually gained 19,000 residential video customers in the period, the company said. Overall, revenue rose 4.3% to $10.3 billion and cash flow increased 6.4% to $3.7 billion in the period.

High-speed data and phone additions were slower in the first quarter, too. Charter added 428,000 residential high-speed data customers in Q1, down from the 520,000 additions a year ago. Residential voice additions were 37,000 in Q1, compared to 213,000 in the same period last year.

The losses seem to mimic video customer reductions in the fourth quarter, when Charter lost 51,000 residential video customers, primarily because of churn at the former TWC systems.

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