RGU at Time Warner Cable Still Crawls
Although the cable industry expects to hold its own in an economic downturn, Time Warner Cable Inc. (NYSE: TWC - message board) continues to see a slower uptake of new service subscriptions, the MSO's president and CEO, Glenn Britt, warned. Britt, speaking at the UBS Global Media and Communications Conference in New York, reiterated that Time Warner Cable saw RGU (revenue-generating unit) growth slow dramatically in October versus the year before, as consumers started to close their pocketbooks. Britt said. "Some weeks are certainly better than others, but it's certainly slower than it was a year ago." He noted that he couldnt't "remember an [economic] environment like this during my career." The good news, Britt said, is that cable offers "services that people are not going to disconnect easily or quickly." If he had to size up the offerings, he expects video to "remain very strong," because "history would say people watch more TV during bad times."
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