Time Warner Cable lost 38,000 residential video customers in the fourth quarter of financial year 2014, Reuters reports, reporting low revenue rates in an increasingly competitive media market.
The United States-based television operator, which is being purchased by Comcast Corporation for $45.3 billion, is said to be in direct competition with internet streaming services among the ranks of Netflix.
The latter company's fourth quarter earnings presented favorable results: 1.9 million streaming customers from the United States were pulled in. Additionally, 1.8 million more are expected to sign-up for Netflix in the current financial quarter, Reuters also reports.
Investor Carl Icahn recently commented on Netflix's economic future and its relation to competitor companies.
"Netflix is going to be worth some multiples higher of where it is today," he said, according to Ben Zinga.
"What I was worried about and conservative about Netflix, and obviously I wished I hadn't been as conservative, was 'net neutrality.' [However] that one storm cloud has gone away."
Time Warner Cable's shares were priced at $139.1 on the New York Stock Exchange on Wednesday following news of the low revenue rates.
