Here we go! Disclaimers are out of the way.
Now they’re talking about Latin America. More than 1 million Latin American subs, net adds of 600k. The majority of growth came from this segment.
Colombia is a key part, Sky Brazil is also very strong. OK now to DIRECTV US.
OK, “growth is in line.” This was a big year for changing their offer structure.
They are talking about the advanced receiver service fee changes and package changes. Stuff we already know. They “successfully implemented their price increase.”
Churn is the lowest in 3 years, at 1.44%.
Trying to balance out top line and bottom line growth this year, they spent too much on retention.
TV Everywhere will stream outside the home by end of year
There was also a mention of a next-generation home media center launch. I don’t know if he means HR34 or something newer.
More results from “Bruce” on Latin America growth.
He’s going country by country on this.
Revenues are up, churn is down.
Premiums did better than anytime since 2008.
Total PPV revenue declined since there was not a major boxing event.
Competition is up and programming costs keep rising. As a result they are tightening up on credit policies and increased retention spending to improve subscriber quality.
This is the lowest churn (1.44%) in three years.