Minson: TWC seeing increased wideband and broadband-only subscribers
Time Warner Cable (NYSE: TWC) is seeing an increased number of subscribers order wideband Internet tiers, along with customers who cancel pay TV service but keep a cable modem, CFO Arthur Minson said Wednesday at the Morgan Stanley Technology, Media & Telecoms Conference in Barcelona.
"We have seen about a 100 percent increase in the aggregate number of wideband subscribers that we have," Minson said, referring to TWC subscribers who take its 30, 50, 75 or 100 Mbps high-speed Internet tiers. "As people consume more, they're willing to pay more," he added.
TWC counts 14.5 million total customer relationships, including pay TV, high-speed Internet and telephone customers. About 9 million subscribe to a bundle of more than one service, and TWC has 5.5 million "single-play" subscribers, Minson said. About 3 million of those single-play customers take a pay TV subscription, and 2.5 million are high-speed-Internet-only customers, Minson said.
"I look at that entire group of single-plays as an area where we can go back and market to, and upsell," Minson said.
He noted that about half of TWC's broadband-only customers buy a pay TV subscription from a competing provider, and that some terminated their pay TV subscriptions.
When asked to describe the profile of a typical broadband-only customer, Minson said many of them are younger and live in multiple dwelling units. "In general they tend to move a little more… they tend to maybe live in more MDUs, which sort of implies a younger, more mobile customer," he added.
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