Entertainment

Charter Quarter IV Pay TV Subscriber Loss, Broadband User Growth – The Hollywood Reporter

Cable operator Charter Communications, in which John Malone’s Liberty Broadband owns a majority stake, lost more pay-TV subscribers in the fourth quarter than in the same period a year earlier, while broadband users grew. The company’s expansion slowed down.

In the last quarter of 2021, the pay TV subscriber lost 58,000 subscribers, compared with 35,000 in the same period a year ago. As of the end of 2021, it had more than 15.83 million total video subscribers.

The cable giant’s broadband Internet business was once again an area of ​​growth, recording 190,000 net additional subscribers, even down from 246,000 in the equivalent quarter of 2020. Shares of the carriers Cable mining has been hit hard in recent months amid slower broadband user growth. As of the end of 2021, Charter has a total of nearly 30.09 million broadband customers.

The charter also added 380,000 mobile phone lines in the fourth quarter, up from 315,000 additions in the same period last year and ending 2021 with more than 3.56 million.

Quarterly ad revenue, which benefited from political spending in the equivalent quarter of 2020, fell 28.2 percent to $448 million. Charter’s total revenue increased 4.7% to $13.2 billion. The company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the fourth quarter rose 7.7% to $5.4 billion. Net income increased from $1.25 billion to $1.61 billion.

“In 2022, we remain focused on driving additional customer growth by providing better services while saving customers money on their total media spend, driving growth.” EBITDA, growth in free cash flow and shareholder value,” said Rutledge.

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