uploads///Telecom Charter Q Internet Subscribers

What’s Driving Charter’s High-Speed Internet Customer Base?

Ambrish Shah - Author

Nov. 1 2018, Updated 7:31 a.m. ET

Charter’s high-speed Internet business

In the third quarter, a core growth driver of Charter Communications’ (CHTR) residential services component was its high-speed Internet business. Charter is optimistic about the growth trajectory of that business. Demand is growing for high-speed Internet connections as people drop their traditional pay-TV plans for online video services such as Amazon’s Prime Video, Hulu, and Netflix.

On a net basis in the third quarter, Charter gained 266,000 residential broadband customers compared to 250,000 net additions in Q3 2017. Subscribers increased ~4.9% year-over-year to 23.3 million as of September 30.

Charter is aggressively deploying 1 Gbps (gigabits per second) speed through DOCSIS 3.1 technology. As of September 30, it offered gigabit service in nearly 95% of its footprint. Charter is looking forward to completing its full upgrade to DOCSIS 3.1 by the end of the year.

Article continues below advertisement

US broadband market

As of September 30, Comcast (CMCSA) was the largest cable company and had the largest Internet subscriber base in the United States, with 24.8 million residential broadband customers. AT&T (T) had 15.7 million broadband customers in the United States, and Verizon (VZ) had 7 million.


Latest Comcast Corp News and Updates

    © Copyright 2022 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.