Charter Communications Inc. topped expectations with its broadband subscriber numbers Friday while posting a sizable haul of wireless subscribers.
Amid concerns about cable’s growth trajectory in the broadband market amid heightened competition and slower move rates, Charter CHTR netted 105,000 new internet subscribers between residential customers and small- and medium-sized businesses.Amid concerns about cable’s growth trajectory in the broadband market amid heightened competition and slower move rates, Charter CHTR netted 105,000 new internet subscribers between residential customers and small- and medium-sized businesses.
Cable companies are no longer benefitting from the sudden extra demand for bandwidth that came in the early days of the pandemic, and they also face various economic challenges, as move activity has been a bit lower and housing starts haven’t shown an uptick. Additionally, they’re staring down heightened competition from the wireless industry.
As the wireless companies move deeper into home internet, the cable companies are ramping up their wireless offerings, which are essentially a repackaging of Verizon Communications Inc.’s VZ network.“The growth in wireless is more than offsetting the declines in video and wired voice,” he said. “And while broadband unit growth has obviously slowed, broadband ARPU [average revenue per user] growth is re-accelerating.”McDevitt also sees a nice opportunity for the cable companies in wireless.
Verizon was the big loser, but McDevitt noted that its subscriber churn isn’t always a pure loss. Since Verizon partners with Comcast and Charter through a mobile virtual network operator model, “to extent Verizon loses any wireless customers” to cable, “they’re also picking up those subs on wholesale,” he said.
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