Charter’s Spectrum TV service saw a big jump in the number of lost subscribers. According to their third quarter 2017 report, their pay TV subscribers dropped by 104,000. That is a noticeable increase from the 47,000 they lost in the same quarter 2016. Charter now has about 16.5 million US customers.
There is some good news, though, because their Internet broadband penetration is growing with 23.3 million subscribers. Charter also announced that 75% of its total footprint now offers service of 100 Mbps down or faster.
Overall results fell short of what Wall Street analysts had estimated they would see. This quickly pushed their stock price down $28.62 for a total loss of 8.30% at the end of the day yesterday.
Charter is facing strong competition as online streaming continues to pick up steam. Hulu, DIRECTV NOW, and YouTube TV all launching in the last year has brought competition to the market that Charter is not used to seeing.
To fight back Charter is rolling out their own live TV streaming service; however, they have not put a lot of marketing into it—mostly relying on mailers to their Internet-only customers.