Charter Lost 138,000 Video Customers in Q1 2021

In its Q1 2021 earnings report Friday morning, Charter reported a loss of 138,000 pay TV customers. That number includes 156,000 residential customers and 18,000 business customers. As of March 31, 2021, Charter had 15.5 million residential video customers.

The company saw growth in its broadband business, though that growth has slowed down in 2021. Charter added 334,000 residential internet customers in Q1 2021, compared to 563,000 additions during the first quarter of 2020. Charter cited lower churn among broadband customers as the reason for the slow down in growth.

“We continue to execute well in a market environment that has not yet returned to normal. We added 355,000 Internet customers in the first quarter, and 2 million over the last year, for year over-year growth of 7.3%,” said Tom Rutledge, Chairman and CEO of Charter. “Our value-driven operating strategy of providing multiple high-quality products at lower prices than sold individually continues to drive our growth.”