CLAIM #14080 · Charter Communications Inc (CHTR) · 2023Q2 earnings call · Jul 28, 2023 · due Dec 31, 2023
“If you move into Q4, you'll start to see the Spectrum on promotional roll off. And have sort of the continuance of the other factors that I talked about. But that will be partially offset by lapping the November 2022 Internet-only rate adjustment.”
Jessica Fischer · CFO
In context
“growth? Thanks. Jessica Fischer: So the price adjustment in August is a $5 retail Internet increase for flagship and above customers, but it's coupled with a new auto pay discount of $5, so customers who are currently on Auto Pay or who opt into Auto Pay won't see a change in their overall price for Internet. There's a lot going on in ARPU. If we move into Q3, we'll fully lap the April 2022 rate adjustment, which included pass-through of video programming expenses. You'll have that August price adjustment and similar to recent trends, I mean when you talk about there being the reduction in ARPU on a per customer basis. It's really the headwind from the lighter mix of non-video customers and lower-priced video tiers that's driving that. And that obviously, I think, continues going forward. If you move into Q4, you'll start to see the Spectrum on promotional roll off. And have sort of the continuance of the other factors that I talked about. But that will be partially offset by lapping the November 2022 Internet-only rate adjustment. So I think that we've had fairly consistent growth in ARPU. If you look at the Internet ARPU growth. And I think, ultimately, our strategy is never to sort of grow the business just based on price. We aim to have competitive prices and to have good penetration because of that on our footprint. But that doesn't mean that we're sort of immune to the inflation impact and that where it's appropriate, we don't take adjustments in the market, which I think is what we've tried to do, but try to do it in a way that's prudent and consistent with our overall strategy. Chris Winfrey: John, I think Jessica said it, but the $5 would not apply to anybody who's already on promotion, it only be a retail and it would to the extent that somebody is or it comes on auto pay, that won't pass through. So it's”
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SEC filings for CHTR ↗ · Claim quote is verbatim from the 2023Q2 earnings call.