Cable TV

FY-2015: Time Warner Cable adds net video customers, revenue up 3.9%

BENGALURU: This the first time since 2006 that Time Warner Cable Inc., (TWC) has reported year-over-year nett video subscriber additions. The company closed the year and quarter ended 31 December, 2015 (FY-2015, current year and Q4-2015, current quarter) with 10.821 million video subscribers, 32,000 (0.3 per cent increase) more than the 10.789 million at the close of FY-2014. The additions were made in Q4-2015, when the company added 54,000 subscribers, hence wiping out the fall of 22,000 until 30 September, 2015. In Q4-2015, TWC reported 10.821 million video customers as compared to 10.727 million in Q3-2015 (0.5 per cent increase).

The company closed the current year with 681,000 more customer relationships than in the previous year. Total customer relationships at the end of FY-2015 and Q4-2015 were 15.129 million as compared to 14,511 million (4.3 per cent increase) at the end of FY-2014 and Q4-2015, and 14.929 million (1.3 per cent increase) in the immediate trailing quarter.

Overall revenue and income

The company reported 3.9 per cent growth in revenue in FY-2015 at $23,697 million as compared to $22,812 million in FY-2014. For Q4-2015, TWC reported 4.9 per cent YoY revenue growth at $6,072 million as compared to $5,790 million. Operating income in FY-2015 however declined 8.5 per cent YoY to $4,239 million as compared to $4,632 million in the previous year. Operating Income in the current quarter declined by 8.2 per cent YoY to $1,125 million as compared to $1,226 million.

Company speak

Time Warner Cable chairman and CEO Rob Marcus said, “I’m incredibly proud of everything we achieved this quarter and in 2015. We made our network more reliable, our products more compelling and our customer service better. And, importantly, our subscriber improvement over the last eight quarters, including our record subscriber performance in 2015, has begun to show up in our financial results. As we begin 2016, we intend to continue to improve the customer experience and build value for our shareholders.”

Segment numbers

Residential video: Residential video revenue in the current year declined 0.9 per cent to $9,907 million as compared to $10,002 million in the previous year. Video revenue in Q4-2015 increased 0.3 per cent YoY to $2,471 million as compared to $2,464 million in Q4-2014. Video Subscription numbers have been mentioned above.

High Speed Data: High Speed Data revenue increased 9.3 per cent in FY-2015 to $7,029 million as compared to $6,428 million in FY-2014. For Q4-2015, the segment’s revenue increased 10.6 per cent YOY to $1,819 million as compared to $1,644 million in Q4-2014. High Speed Data subscribers in FY-2015 increased 8.6 per cent to 12.675 million as compared to 11.675 million in FY-2014. QoQ, relationships increased by 2.3 per cent as compared to 12.394 million in Q3-2015.

Voice: Voice revenue declined 0.1 per cent in FY-2015 to $1,931 million as compared to $1,932 million in FY-2014. In Q4-2015, Voice revenue increased 5.7 per cent YoY to $497 million as compared $470 million. Voice subscribers increased 19.6 per cent in FY-2015 to 6.23 million as compared to 5.284 million in FY-2014. QoQ Voice subscribers increased 3.7 per cent in Q4-2015 as compared to 6.093 million in the immediate trailing quarter.

Multi-Play: In FY-2015, while single play customers increased 2.2 per cent to 5.75 million from 5.63 million and triple play customers increased 21.9 per cent to 5.31 million from 4.356 million, double play customers declined 10.1 per cent to 4.067 million from 4.525 million in FY-2014. QoQ, Single play customers increased 0.8 per cent, triple play customers increased four per cent, while double play customers declined 1.2 per cent.

Business Services: Business services contribution to TWC’s revenue increased to 13.9 per cent in FY-2015 from 12.4 per cent in FY-2014. Overall Business Services Revenue (BSR) in the current year increased 15.7 per cent to $3,284 million from $2,838 million in FY-2014. Total revenue in Q4-2015 increased 14.4 per cent YoY to $864 million (18 per cent of overall revenue) as compared to $755 million (16.4 per cent of overall revenue). A major portion (a little less than 50 per cent) of BSR comes from high speed data and almost 90 per cent of TWC’s business services subscribers opting for this service.

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