Time Warner Cable Loses 140K Video Subs5 Nov, 2012 By: Erik Gruenwedel
Time Warner Cable Nov. 5 reported it lost 140,000 video subscribers in the third quarter ended Sept. 30.
The decline, which was offset in part by combined residential and business subscriber gains of 112,000 in high-speed Internet and telecommunications, brings to 403,000 video subs lost by the No. 2 cable operator since the beginning of the year.
TWC ended the quarter with 12.1 million video subscribers. In addition to competition from lower-cost video services such as Netflix, Hulu Plus and Amazon Prime Instant Video, the cable operator cited the ongoing economic recession for the decline.
TWC is fighting back in part by its recent $3 billion, 20-year exclusive broadcast agreement with the Los Angeles Lakers and Los Angeles Galaxy soccer team. The games are broadcast on TWC’s new sports network — a platform the cable operator is requiring competing multichannel video distributors to pay $3.95 per sub, per month to carry.