Comcast (CMCSA), Time Warner Cable (TWC) Shed 1.1M Video Subs in 2013

Comcast (Nasdaq: CMCSA) and Time Warner Cable (NYSE: TWC) saw a slight exodus of video subs last year.

ArsTechnica noted that the duo saw a combined 1.1 million pay-TV subscribers leave in 2013. The two weren't the only companies with lower pay-TV subs at the end of last year; Charter Communications (Nasdaq: CHTR), Cablevision (NYSE: CVC), , and Suddenlink also ended the year with fewer subs.

On Time Warner Cable spokesperson told ArsTechnica, We began to move away from too aggressively priced new customer promotions that alienated some subscribers when their promotional price period ended ... we experienced a larger than usual video subscriber loss last summer from both the CBS/Showtime blackouts as well as from Journal Broadcasting related blackouts in the Midwest ... [the company] has begun significant upgrades in our largest markets this year which will introduce a more dynamic new TV navigation experience and much more content via On Demand.

While many are moving away from traditional video, Internet subscribers saw a gain. In 2013, total broadband subs rose by 2.6 million to 84.3 million. Cable companies accounted for 49.3 million and telecom companies accounted for the rest.

Comcast and Time Warner Cable announced a $45.2 billion merger last month and its expected that Comcast will shed around 3 million subs to appease regulators. Shares of both companies are up on the session.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Midday movers: Tesla, Li Auto and CNH Industrial fall; Salesforce rises
• CoStar Group (CSGP) to Acquire Matterport (MTTR) for $5.50/sh Cash and Stock
• United Homes Group (UHG) Announces Board Changes