Time Warner Cable doesn’t have any major programming contracts expiring...
Time Warner Cable doesn’t have any major programming contracts expiring in the next year or two, CEO Glenn Britt said during the company’s Q2 earnings teleconference Thursday. “We of course have not made a practice of disclosing what deals have…
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come up,” he said. “But I think it’s safe to say we have done a lot of long-term renewals and don’t have a lot of big stuff coming up in the next year two.” Britt said he sees the potential for a large revenue opportunity around home health monitoring. “There’s a lot going on in healthcare, and I don’t think we've begun to fully understand the implications of the healthcare act, and how it’s going to change behavior,” he said. “I think it’s going to lead to a lot of opportunities for monitoring health conditions” and reporting that information back to doctors and hospitals, he said. Those things “are just a glimmer now” but over time they could be a bigger opportunity to Time Warner Cable’s new home monitoring business than the home security features it’s deploying now, he said. The company lost 169,000 residential video subscribers during the quarter, leaving it with about 12.5 million. It added 59,000 broadband subscribers during the quarter to end with 10.7 million and 45,000 phone customers for a total of 4.95 million. The pay-TV business is mature, but there’s no deying it’s a great business, Britt said. Despite recent subscriber losses, nearly 90 percent of U.S. households buy pay-TV service, he said. “There are very few products that that many homes buy that’s discretionary,” he said. “The basic product we're selling … is really enormously successful.” Q2 sales increased 9.3 percent to $5.4 billion. Profit increased 7.6 percent to $452 million. The results largely beat analyst expectations in a quarter that’s typically the weakest in the pay-TV sector, Phoenix Partners Group analyst Robert Routh wrote investors.