Revenue from its video subscribers — still the largest segment area for the second-largest cable operator in the U.S. — sank 2.8% to $2.46 billion during the period. Time Warner Cable also posted a net decline in subscribers of 38,000.
The one bright spot here was continued higher revenue per subscriber. Average monthly programming costs for Time Warner were up 12.5% to $39.03 for the fourth quarter.
Broadband business gained 7.4% to $1.64 billion, adding 168,000 customers. Voice revenue sank to $470 million, but added 295,000. Triple play net additions, those buying all three services — video, voice and broadband — gained 273,000.
Due to strong political advertising during the fourth quarter, total advertising revenue leaped 19.4% to $332 million. Political advertising revenue was $61 million in the fourth quarter ($113 million for the full year of 2014). This compared to $7 million in the fourth quarter 2013. (TWC earned $28 million for full year of 2013).
Rob Marcus, chairman/CEO of Time Warner Cable, says he expects the merger with Comcast to “close soon.”
Overall revenue was up 3.8% to $5.79 billion; net income was 2.6% higher to $554 million.