Benzinga - by Zacks, Benzinga Contributor.
Charter Communications' (NASDAQ: CHTR) division, Spectrum, has expanded its partnership with Magnite (NASDAQ: MGNI) to enhance programmatic ad-buying across Spectrum Reach's extensive library of premium linear and streaming television inventory.
This collaboration will extend the use of Magnite's technology, allowing targeted ads to be delivered in an automated and privacy-focused manner to consumers using the Spectrum TV App, which is the country's highest-rated pay TV streaming app and the most-viewed streaming service in the United States on an hours-per-household basis.
The agreement enables MGNI's full programmatic capabilities to be applied to Spectrum's newest video delivery technology, permitting ad buyers to bid on individual impression opportunities in real-time. This system will also provide centralized planning and frequency management across both linear and digital platforms, enhancing the ability of advertisers to optimize their campaigns.
Spectrum Reach offers custom advertising solutions for local, regional and national clients by utilizing aggregated and de-identified first-party data to reach audiences across various platforms. This expansive reach ensures that Spectrum Reach can deliver tailored advertising solutions that meet the diverse needs of its clients.
This collaboration marks a significant step forward in the integration of linear and digital advertising, leveraging cutting-edge technology to create more efficient and impactful ad experiences.
Charter Communications, Inc. Price and Consensus
Charter Communications, Inc. price-consensus-chart | Charter Communications, Inc. Quote
CHTR's Recent Expansion Efforts to Aid Top-Line Growth Charter Communications has been constantly expanding its presence throughout the United States as well as introducing new features to its platform despite headwinds like cord-cutting.
Shares of this Zacks Rank #3 (Hold) company have plunged 28.6% in the year-to-date period compared with the Zacks Consumer Discretionary sector's decline of 1.2%. The decline is attributed to persistent video-subscriber attrition, primarily due to cord-cutting.
Charter Communications is dedicated to broadening its presence and customer base across the United States through continuous investments. The Zacks Consensus Estimate for Charter Communications' fiscal 2024 revenues is pegged at $54.61 billion, indicating no change year over year. The consensus mark for earnings is pegged at $32.02 per share, indicating year-over-year growth of 6.77%.
Currently, Spectrum serves more than 32 million customers in 41 states nationwide. Spectrum recently expanded its coverage to include North Carolina, Tennessee, Michigan, Alabama and Florida.
Spectrum recently introduced expanded chat-based technical support and billing assistance for its Internet, Video and Voice customers at its customer service facility in El Paso, TX, where hundreds of representatives utilize advanced tools to enhance efficiency and service quality. For nearly a decade, live agent chat services have been available to Spectrum Video and Internet customers, with the service extending to Spectrum Mobile customers in 2020.
Charter Communications has also renewed its longstanding partnership with Paramount Global (NASDAQ: PARA). This multi-year distribution agreement includes PARA's entire array of linear cable networks, CBS-owned-and-operated broadcast stations and direct-to-consumer streaming services. The partnership is designed to increase consumer value, create new distribution opportunities and strengthen the video ecosystem, ultimately supporting top-line growth in the coming quarters.
Charter Communication's Spectrum has a strong partner base that bodes well with the prospects of the company. Some notable partners include companies like Cisco Systems (NASDAQ: CSCO), RingCentral (NYSE: RNG) and many more.
Spectrum Enterprise Cloud Security, in partnership with Cisco+ Secure Connect, delivers a comprehensive platform for implementing security protocols across multiple cloud services and devices. This solution includes features, such as zero trust network access and cloud-based firewalls, enabling IT teams to maintain security compliance for both corporate and personal devices without the need to route remote and branch traffic through the corporate LAN.
Additionally, Spectrum has collaborated with RingCentral to offer small and medium-sized businesses, as well as other enterprise clients, high-speed Internet and network solutions. This partnership also provides a secure and user-friendly communications platform, enhancing the overall connectivity and efficiency of these businesses.
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