Time Warner Cable's 2010 fourth quarter results
indicate the company added 94,000 broadband customers and 72,000 digital voice customers on the quarter, though the company lost 141,000 basic video customers, more than many analyst predictions. "We are seeing some modest improvement, but we continue to feel the effects of a weak housing market and high unemployment," company COO Rob Marcus stated on the company's conference call with analysts and the press.
On the conference call, company CEO Glenn Britt stated that the company has followed in Comcast's footsteps
, and has begun a soft launch of a new home security and automation service that will be broadly deployed later this year. Undiscussed by Britt was the fact that the company continued to turn a healthy profit without the need to shift to metered broadband, something the company insisted last year was absolutely necessary for financial survival. Britt did take the opportunity to take a few fresh shots at Netflix
, equating the service to a slick GUI with little value that any random assortment of designers brought in off the street could have come up with:
Time Warner Cable Chief Executive Glenn Britt said on Thursday most video customer losses were due to the slow economy and weak housing market. Like other cable executives, he raised doubts as to the sustainability of Netflix's business model. "They have a wonderful (online) interface, which anybody can hire a bunch of Web designers and do that. I question what the ultimate root value of that is, what's the value-add of what they're doing," Britt said on a conference call with analysts.
The verbal jabs are part of a broader assault on Netflix by Time Warner Cable and former parent company Time Warner. Time Warner believes that by talking a lot of crap about Netflix they'll somehow convince them to pay more money for HBO content
. Britt apparently believes that trash talking Netflix will magically make their potential threat to traditional cable TV disappear. Netflix of course is more than just a pretty face. The company is doing incredibly well, is seeing explosive growth (particularly on the streaming video front), and this week announced they'd passed 20 million users.