Charter's Q3 Video Revenue Falls 9% Amid Disney Carriage Dispute
Charter Communications, the parent company of Spectrum TV, disclosed that it lost 320,000 video customers in Q3, attributing the decline partly to the temporary loss of Disney programming during their carriage dispute. The company's CFO stated that the impact on customer relationships was less than expected due to the availability of over-the-top alternatives. After reaching a new deal, Disney+ will be bundled into Charter's core video offering, but several Disney cable channels will be removed. Charter plans to pursue similar deals with other programmers and aims to modernize distribution agreements for mutual customer benefit. Charter also reported revenue growth driven by an increase in Internet and mobile customer relationships.