Charter’s broadband subscriber additions
The cable industry’s market share of US broadband users continues to rise. Charter (CHTR) and Comcast (CMCSA) gained the most broadband subscribers in 2Q17, given the next-generation broadband speeds. Now let’s analyze the robust performance of Charter’s Internet component, a key growth driver for the company. In 2Q17, the company gained 231,000 subscribers. As of 2Q17, Charter’s Internet subscribers rose ~6.6% YoY (year-over-year) to reach 22.0 million.
During the Goldman Sachs Communacopia Conference held on September 12, 2017, Tom Rutledge, Charter’s chief executive officer, was asked about the position of Charter’s broadband product in the industry. Rutledge stated, “I think we can take our speeds up, we can make our video better, we can add mobility to that mix and stay competitive.”
US Internet market
Now let’s analyze the Internet subscriber base of some of the other top US cable players. As of 2Q17, Comcast’s Internet subscriber base is still the largest in the United States with 25.3 million broadband subscribers.
After Charter, the third largest Internet customer base belonged to AT&T (T) with 14.3 million broadband subscribers. Verizon (VZ) has the fourth largest Internet subscriber base in the US with 7.0 million broadband subscribers.