Why Charter Is Optimistic about Its Broadband Services
Charter at the UBS Global Media and Communications Conference PART 6 OF 10 By Andrew Smith | Dec 29, 2017 8:22 am EST
Charter’s broadband subscriber acquisitions in 3Q17
As of 3Q17, its Internet subscribers increased ~6% YoY (year-over-year) to 22.3 million, making it the second-largest US cable company after Comcast (CMCSA). During the UBS Global Media and Communications Conference on December 4, 2017, Thomas Rutledge, Charter’s chair and CEO (chief executive officer), spoke about Charter’s broadband business. He said the company expects to continue to grow its broadband subscribers by differentiating the product with superior speeds.
Rutledge said, “So we’ve just launched a 1-gig service in Hawaii last week. We can do that pretty much everywhere we operate in 2018, almost virtually the whole company. And so we think that we can continue to differentiate our broadband using our superior infrastructure everywhere we operate, and we think that we can win in the marketplace and have consistent kinds of growth rates that people who have invested in us in the past have gotten.”
US Internet market
Now let’s look at the Internet customer base of some of the other major US cable companies. At the end of 3Q17, Comcast’s Internet customer base remained the largest in the United States with 25.5 million broadband customers. After Charter, the third-largest Internet subscriber base belonged to AT&T (T) with 15.7 million broadband subscribers.
Verizon (VZ) had the fourth-largest Internet customer base with 7 million broadband customers.