InvestorsDecember 26, 2000
Charter Communications Breaks 1 Million Digital Customer Mark; Weekly Installations As High As 40,000 Contribute To Industry Leading Pace
ST. LOUIS--(BUSINESS WIRE)--Dec. 26, 2000--Charter Communications, Inc. (Nasdaq:CHTR) today announced installation of its one millionth digital video customer just before Christmas in Gwinett County, Ga, a suburb of Atlanta. "We began the year 2000 with some 155,000 Charter Digital Cable(TM) customers and forecast an average 10,000 digital installations per week," said Jerry Kent, President and CEO. "The outstanding consumer acceptance, combined with our marketing focus and overwhelming employee advocacy for this product, has required us to continually increase our targeted goals for digital installations throughout the year," Mr. Kent said. "In the past two weeks alone, with our employees working after hours and on weekends to meet the demands of the Christmas selling season, we've averaged 40,000 installations per week, resulting in this milestone."
Mr. Kent likened the cable television industry's transition from analog to digital technology to the television industry's move from black and white to color TV. "Charter Digital Cable is the launch pad for us to provide advanced broadband services, including video on demand, interactive services, and eventually IP telephony. Throughout the year, targeted sales and marketing campaigns have made the consumer realize our compelling price-value relationship over DBS. Our customers have shown an insatiable appetite for digital. And I fully expect the momentum to continue in 2001," he continued.
With today's announcement, Mr. Kent was quick to praise the efforts of Charter employees who have been tireless in their efforts to effectively sell and install digital set tops at an industry leading pace. "Our success with digital cable is a testimony to the men and women of Charter," Mr. Kent said. "We responded to their enthusiasm with incentives to work after hours and on weekends to install digital boxes, so they earn overtime and a commission. We also implemented a very successful employee incentive program to locate and convert satellite customers to Charter Digital Cable service. It's proved to be a win-win-win for our customers, our employees and our shareholders alike. We've increased our install capability to meet sales. We've ensured better quality in the installation and education of the customer by using employees over contractors. And our employees earn extra cash for the holiday season," he continued.
With more than 6.3 million customers, Charter Communications, a Wired World(TM) company, is among the nation's largest broadband communications companies. Charter offers an array of advanced broadband services, including cable television under the Charter Cable TV brand; advanced digital video programming services under the Charter Digital Cable(TM) brand; and high-speed Internet access via Charter Pipeline(TM). Charter's Class A common stock is traded on the Nasdaq National Market under the ticker symbol "CHTR." More information about Charter can be found at www.chartercom.com.
Statements in this press release regarding Charter Communications' business that are not historical facts may be "forward-looking statements." Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from any such forward-looking statements are identified in the reports and documents Charter files from time to time with the U.S. Securities and Exchange Commission.
|CONTACT:||Charter Communications Inc., St. Louis|
|Media Contact: Anita Lamont, 314/543-2215|
|Analysts Contact: Mary Jo Moehle, 314/543-2397|