According to Wells Fargo analyst Marci Ryvicker, Q4 is traditionally a slow time for the MVPD business, and this time it faces various questions on top of dealing with sluggish subscription growth.
Ryvicker noted that “…choppy advertising and macroeconomic environments” are also inhibiting factors.
What subscription growth Comcast and Time Warner Cable can expect will largely be in the VoIP arena rather than in video.
While there may be some concern about HBO’s plan to offer itself on an OTT basis, Ryvicker does not believe there are significant threats in the form of cord-cutting, cord-shaving and cord-nevers. In fact, an $80 per month bundle of channels offered by Sony was called “laughable.”
Washington remains something to watch. What kind of concessions might be required to allow the Comcast/TWC merger to go through? What’s going to happen on the network neutrality front?
