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US top cablcos lose 357,000 homes in quarter

By PETER WHITE

Published: 3 November, 2011

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Both Comcast and Time Warner Cable have turned to business services during the past quarter, to pull their results out of the fire, as consumers demand either fell or was static. Comcast delivered results up 51% but that included the additional revenues from its NBC studio and theme parks acquisitions. Without that it's cable business was up 5%, but TV revenues up just 1.1% or $51 million to $4.9 billion over this quarter last year.

Comcast broadband revenues were up 9.8%, around $196 million to $2.2 billion, while business revenues jumped $130 million to $464 million, more than double the growth in TV revenues and in percentage terms far higher.

Comcast lost 165,000 TV subscribers in the quarter to end with 22.36 million video customers compared to almost 23 million a year ago. Broadband customers jumped by 261,000 in the quarter to end at 17.8 million, compared to 16.7 million a year ago.

By comparison Time Warner Cable revenues for the quarter were up just 3.7% year on year to $4.9 billion with residential services up 2% and business services up 34.8% to $387 million. Advertising fell 3.1% to $216 million.

TWC video revenues were off 0.5% to $2.6 billion, and broadband was up 7.8% to $1.2 billion. TWC residential TV subscribers fell by 128,000 during the quarter to 11.9 million and broadband was only up by 89,000 to 9.8 million homes. Net debt has risen over $3 billion to $26.4 billion. One of the worst performance indicators was that triple play subscribers actually fell by 12,000 to 3.8 million.

For a full analysis of this subject go to www.rethinkresearch.biz/faultine and order this week's Faultline issue.

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