{"slug":"charter-communications","name":"차터 커뮤니케이션스","name_en":"Charter Communications, Inc.","ticker":"CHTR","updated_at":"2026-09-24T11:00:17.921025+00:00","canonical":"https://valuechain.wiki/charter-communications","citable":"밸류체인 그래프 기준 차터 커뮤니케이션스의 직접 연결 기업은 4곳(관계 기준 공급 3·매출 0·투자 1)이고, 사슬을 2차까지 넓히면 5곳에 닿는다. 링크의 근거 출처는 10건이며 그중 1차공시가 4건이다 (valuechain.wiki, 2026-09-24 기준).","citable_en":"Per the valuechain.wiki graph, Charter Communications, Inc. is directly linked to 4 companies (3 supply, 0 revenue, 1 investment relationships) and reaches 5 companies within two hops; the links are backed by 10 dated sources, 4 of them primary filings (as of 2026-09-24).","kicker":"미국 케이블·통신 사업자","kicker_en":"U.S. cable and connectivity provider","lead":"차터 커뮤니케이션스는 Spectrum 브랜드로 인터넷, 모바일, 유료방송, 기업용 통신과 광고를 판매한다. 매출의 중심은 인터넷을 포함한 연결 서비스이며, 콘텐츠 사용료와 이동통신 도매망, 네트워크 확장에 큰 비용을 쓴다.","lead_en":"Charter Communications sells internet, mobile, pay-TV, business connectivity and advertising under the Spectrum brand. Connectivity led by internet service is its main revenue engine, while programming rights, wholesale mobile-network access and network expansion are major uses of cash.","categories":[{"key":"connectivity-operators","ko":"연결망 운영","en":"Connectivity Operators","theme":"communications-media","theme_ko":"통신·미디어","theme_en":"Communications & Media","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"주거용","note":"FY2025 425억8000만달러. 인터넷·모바일·비디오·음성 서비스"},{"name":"상업용","note":"FY2025 73억1500만달러. 중소기업 및 중견·대기업 연결 서비스"},{"name":"광고 판매","note":"FY2025 14억6800만달러"},{"name":"기타","note":"FY2025 34억1100만달러. RDOF 보조금 매출 포함"}],"total":"FY2025 총매출 547억7400만달러","track":"C"},"segments_en":{"parts":[{"name":"Residential","note":"$42.580 billion in FY2025 from internet, mobile, video and voice services"},{"name":"Commercial","note":"$7.315 billion in FY2025 from small, medium and large business connectivity"},{"name":"Advertising sales","note":"$1.468 billion in FY2025"},{"name":"Other","note":"$3.411 billion in FY2025, including RDOF subsidy revenue"}],"total":"FY2025 total revenue of $54.774 billion"},"returns_yearly":{"2021":-1.4,"2022":-48,"2023":14.6,"2024":-11.8,"2025":-39.1,"2026":-27.2},"return_asof":"2026-09-04","value_chain":{"leading":[],"benefiting":[{"slug":"disney","name":"Disney","name_en":"The Walt Disney Company","tier":1,"returns_yearly":{"2021":-14.5,"2022":-43.9,"2023":4.3,"2024":24.4,"2025":3.3,"2026":-6.7}},{"slug":"amazon","name":"아마존","name_en":"Amazon","tier":2,"returns_yearly":{"2021":2.4,"2022":-49.6,"2023":80.9,"2024":44.4,"2025":5.2,"2026":12}},{"slug":"comcast","name":"컴캐스트","name_en":"Comcast Corporation","tier":2,"returns_yearly":{"2021":-2.2,"2022":-28.7,"2023":29.1,"2024":-11.8,"2025":-17.3,"2026":-22.3}},{"slug":"sandisk","name":"샌디스크","name_en":"SanDisk","tier":3,"returns_yearly":{"2026":633}},{"slug":"warner-bros-discovery","name":"워너브러더스 디스커버리","name_en":"Warner Bros. Discovery, Inc.","tier":3,"returns_yearly":{"2021":-21.8,"2022":-59.7,"2023":20,"2024":-24.9,"2026":262}},{"slug":"seagate","name":"Seagate","name_en":"Seagate Technology","tier":3,"returns_yearly":{"2021":87.5,"2022":-51.4,"2023":69.1,"2024":4.1,"2025":225.3,"2026":209.1}},{"slug":"marvell","name":"Marvell","name_en":"Marvell","tier":3,"returns_yearly":{"2021":84.6,"2022":-57.5,"2023":63.7,"2024":83.8,"2025":-22.8,"2026":163.4}},{"slug":"astera-labs","name":"Astera Labs","name_en":"Astera Labs","tier":3,"returns_yearly":{"2025":25.6,"2026":105.7}},{"slug":"wiwynn","name":"Wiwynn","name_en":"Wiwynn","tier":3,"returns_yearly":{"2021":24.7,"2022":-22.3,"2023":206.4,"2024":3.5,"2025":64.4,"2026":92.3}},{"slug":"sk-hynix","name":"SK하이닉스","name_en":"SK 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Inc.","tier":3,"returns_yearly":{"2021":3.6,"2022":39.9,"2023":23.9,"2024":74.2,"2025":48.9,"2026":-10.3}},{"slug":"fabrinet","name":"Fabrinet","name_en":"Fabrinet","tier":3,"returns_yearly":{"2021":52.7,"2022":8.2,"2023":48.4,"2024":15.5,"2025":107.1,"2026":-10.5}},{"slug":"ionq","name":"IonQ","name_en":"IonQ","tier":3,"returns_yearly":{"2022":-79.3,"2023":259.1,"2024":237.1,"2025":7.4,"2026":-11.9}},{"slug":"fox","name":"폭스","name_en":"Fox Corporation","tier":3,"returns_yearly":{"2021":28.2,"2022":-16.6,"2023":-0.8,"2024":66.3,"2025":51.8,"2026":-13.8}},{"slug":"nintendo","name":"닌텐도","name_en":"Nintendo","tier":3,"returns_yearly":{"2021":-4.1,"2022":3.4,"2023":53.3,"2024":25.6,"2025":-0.6,"2026":-17.4}},{"slug":"abbott-laboratories","name":"애보트","name_en":"Abbott Laboratories","tier":3,"returns_yearly":{"2021":30.5,"2022":-20.7,"2023":2.3,"2024":4.8,"2025":12.9,"2026":-19}},{"slug":"qubt","name":"Quantum Computing Inc","name_en":"Quantum Computing Inc","tier":3,"returns_yearly":{"2021":-75.8,"2022":-55.7,"2023":-39.5,"2024":1712.7,"2025":-38,"2026":-27.5}},{"slug":"rigetti","name":"Rigetti Computing","name_en":"Rigetti Computing","tier":3,"returns_yearly":{"2022":-92.9,"2023":35.1,"2024":1449.2,"2025":45.2,"2026":-31.4}},{"slug":"nike","name":"Nike","name_en":"Nike","tier":3,"returns_yearly":{"2021":18.7,"2022":-29,"2023":-6,"2024":-29.1,"2025":-13.8,"2026":-44.1}},{"slug":"d-wave","name":"D-Wave Quantum","name_en":"D-Wave Quantum","tier":3,"returns_yearly":{"2022":-85.3,"2023":-38.9,"2024":854.5,"2025":211.3,"2026":-44.3}},{"slug":"anthropic","name":"Anthropic","name_en":"Anthropic","tier":3,"returns_yearly":null},{"slug":"cerebras","name":"Cerebras","name_en":"Cerebras Systems","tier":3,"returns_yearly":null},{"slug":"arianegroup","name":"아리안그룹","name_en":"ArianeGroup","tier":3,"returns_yearly":null}],"analysis":"미국 케이블·통신 사업자 기업. 2025년 -39.1%, 2026년 -27.2%로 약세가 이어진다. 공급단(평균 +11.3%)이 본주(-27.2%)보다 앞서 있다. 지출이 아래로 번지며 공급사 쪽 탄력이 먼저 나타나는 구도다. 연결 노드 중 가장 앞선 곳은 버라이즌(+29.3%), 가장 처진 곳은 월트 디즈니(-6.7%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"Charter Communications, Inc. operates across U.S. cable and connectivity provider. It remained weak at -39.1% in 2025 and -27.2% in 2026. The supply side (avg +11.3%) leads the stock (-27.2%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is Verizon (+29.3%) and the furthest behind is The Walt Disney Company (-6.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Connectivity led by internet service is its main revenue engine, while programming rights, wholesale mobile-network access and network expansion are major uses of cash.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"Cox Communications","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2026-01-30","basis":"차터가 조달하기로 한 Cox 거래 현금 대가","value":4000000000,"period":"pending Cox Transactions announced 2025-05-16","basis_en":"Cash consideration Charter was obligated to fund for the Cox Transactions","qualifier":null},"note":"차터는 Cox Communications의 상업용 광섬유·관리형 IT·클라우드 사업과 주거용 케이블 자산을 결합하는 거래를 추진했다. 2025년 말 기준 거래는 조건부였으며 차터의 현금 조달 의무는 40억달러였다.","note_en":"Charter agreed to combine with Cox Communications, including its commercial fiber, managed IT and cloud operations and residential cable assets. The transaction remained conditional at year-end 2025, with Charter obligated to fund $4.0 billion of cash consideration.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/1091667/000109166726000017/chtr-20251231.htm","title":"차터 커뮤니케이션스 2025 회계연도 10-K","title_en":"Charter Communications FY2025 Form 10-K","excerpt":"차터는 현금 40억달러를 조달할 의무가 있다.","excerpt_en":"obligated to fund $4.0 billion"},{"stance":"confirms","publisher":"S&P 글로벌 마켓 인텔리전스","publisher_en":"S&P Global Market Intelligence","kind":"analysis","lang":"en","published_at":"2025-05-16","url":"https://www.spglobal.com/market-intelligence/en/news-insights/articles/2025/5/charter-cox-to-merge-mobile-business-strategies-in-largest-us-cable-company-89072898","title":"차터와 Cox, 미국 최대 케이블 사업자 결합 추진","title_en":"Charter, Cox to merge mobile, business strategies in largest US cable company","excerpt":"두 케이블 사업자는 기업가치 345억달러 규모의 결합에 합의했다.","excerpt_en":"agreed to combine in a $34.5 billion deal"}]},{"direction":"revenue","counterparty":"연방통신위원회","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-01-30","basis":"FY2025에 인식한 FCC RDOF 보조금 매출","value":114000000,"period":"FY2025","basis_en":"FCC RDOF subsidy revenue recognized in FY2025","qualifier":null},"note":"FCC는 RDOF를 통해 차터의 농촌 광대역 구축과 운영을 10년에 걸쳐 지원한다. 차터는 FY2025에 이 지원금 1억1400만달러를 기타 매출로 인식했다.","note_en":"The FCC supports Charter's rural broadband construction and operations over ten years through RDOF. Charter recognized $114 million of this support as other revenue in FY2025.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/1091667/000109166726000017/chtr-20251231.htm","title":"차터 커뮤니케이션스 2025 회계연도 10-K","title_en":"Charter Communications FY2025 Form 10-K","excerpt":"RDOF 보조금 매출 약 1억1400만달러를 포함했다.","excerpt_en":"approximately $114 million of RDOF subsidy revenue"},{"stance":"confirms","publisher":"미국 연방통신위원회","publisher_en":"Federal Communications Commission","kind":"filing","lang":"en","published_at":"2020-12-07","url":"https://docs.fcc.gov/public/attachments/doc-368588a1.pdf","title":"농촌 디지털 기회 기금 1단계 경매 결과","title_en":"Successful Rural Digital Opportunity Fund Auction to Expand Broadband to Over 10 Million Rural Americans","excerpt":"차터는 105만 곳이 넘는 대상지로 가장 많은 구축 위치를 배정받았다.","excerpt_en":"Charter Communications was assigned the most locations"}]},{"direction":"investment","counterparty":"Xumo Services","counterparty_slug":null,"confidence":"high","metric":{"type":"share","unit":"percent","as_of":"2026-01-30","basis":"차터의 Xumo Services 합작 지분","value":50,"period":"FY2025 year-end","basis_en":"Charter's equity interest in the Xumo Services joint venture","qualifier":null},"note":"차터는 컴캐스트와 차세대 스트리밍 플랫폼 Xumo Services를 50대50 합작으로 운영한다. 2025년 말 차터의 전체 지분법 투자 장부액은 5억300만달러지만 Xumo 단독 장부액은 공개되지 않았다.","note_en":"Charter operates next-generation streaming platform Xumo Services as a 50/50 joint venture with Comcast. Charter reported $503 million of total equity-method investments at year-end 2025 but did not disclose Xumo's standalone carrying value.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/1091667/000109166726000017/chtr-20251231.htm","title":"차터 커뮤니케이션스 2025 회계연도 10-K","title_en":"Charter Communications FY2025 Form 10-K","excerpt":"컴캐스트와 Xumo를 50대50 합작으로 운영한다.","excerpt_en":"50/50 joint venture with Comcast"}]},{"direction":"revenue","counterparty":"PubMatic","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-04-09","basis":"PubMatic을 통한 Spectrum Reach 광고 재고 판매액","value":null,"period":"2025 partnership","basis_en":"Spectrum Reach advertising inventory sales through PubMatic","qualifier":"confirmed_no_disclosed_value"},"note":"Spectrum Reach는 PubMatic의 CTV 마켓플레이스를 광고 구매 채널로 연결해 자사 광고 재고에 대한 수요를 확대한다. 상대별 거래액은 공개되지 않았다.","note_en":"Spectrum Reach uses PubMatic's CTV marketplace as a buying channel that brings advertiser demand to Charter's inventory. No counterparty-specific transaction value was disclosed.","sources":[{"stance":"confirms","publisher":"차터 커뮤니케이션스","publisher_en":"Charter Communications","kind":"ir","lang":"en","published_at":"2025-04-09","url":"https://corporate.charter.com/newsroom/pubmatic-spectrum-reach-ctv-partnership","title":"PubMatic과 Spectrum Reach, CTV 마켓플레이스 수요 확대 제휴","title_en":"PubMatic and Spectrum Reach Partner to Enhance Demand, Efficiency and Curation Across CTV Marketplace","excerpt":"제휴는 Spectrum Reach 광고 재고에 더 많은 수요와 효율적인 구매를 연결한다.","excerpt_en":"bring increased demand and efficient buying to Spectrum Reach's advertising inventory"}]},{"direction":"cost","counterparty":"버라이즌","counterparty_slug":"verizon","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-17","basis":"Spectrum Mobile의 Verizon 무선망 도매 이용 대가","value":null,"period":"FY2025","basis_en":"Wholesale Verizon network access cost for Spectrum Mobile","qualifier":"confirmed_no_disclosed_value"},"note":"차터는 Spectrum Mobile의 전국 4G·5G 서비스를 제공하기 위해 Verizon 무선망을 도매로 이용한다. 양사 10-K가 이 관계를 각각 확인하지만 상대별 지급액은 공개하지 않았다.","note_en":"Charter buys wholesale access to Verizon's wireless network to provide nationwide 4G and 5G coverage for Spectrum Mobile. Both companies' 10-K filings confirm the relationship, but neither discloses the counterparty-specific payment amount.","sources":[{"stance":"confirms","publisher":"버라이즌","publisher_en":"Verizon Communications Inc.","kind":"filing","lang":"en","published_at":"2026-02-17","url":"https://www.verizon.com/about/sites/default/files/2025-Annual-Report-on-Form-10k.pdf","title":"버라이즌 2025 회계연도 10-K","title_en":"Verizon FY2025 Form 10-K","excerpt":"Verizon은 Charter 같은 케이블 재판매사에 도매 무선 서비스를 판매한다.","excerpt_en":"Resellers include cable companies, such as Comcast Corporation and Charter Communications"},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-01-30","url":"https://www.sec.gov/Archives/edgar/data/1091667/000109166726000017/chtr-20251231.htm","title":"차터 커뮤니케이션스 2025 회계연도 10-K","title_en":"Charter Communications FY2025 Form 10-K","excerpt":"Spectrum Mobile은 Verizon의 셀룰러 네트워크를 활용한다.","excerpt_en":"leveraging the cellular network of Verizon"}]},{"direction":"investor","counterparty":"컴캐스트","counterparty_slug":"comcast","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-03","basis":"XUMO 합작법인 지분·출자 규모(비공개)","value":null,"period":"2022-2025","basis_en":"Xumo joint-venture equity/contribution amount (undisclosed)","qualifier":"confirmed_no_disclosed_value"},"note":"차터 커뮤니케이션스는 컴캐스트와 스트리밍 플랫폼 합작법인 XUMO를 운영 중이며, 2022년에 브랜드가 확정된 이 법인은 컴캐스트의 2025 회계연도 10-K에서 연결 대상 합작법인으로 명시됐다.","note_en":"Charter Communications operates the Xumo streaming-platform joint venture with Comcast, and the venture, whose branding was finalized in 2022, is identified as a consolidated joint venture in Comcast's FY2025 10-K.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1166691/000162828026004994/cmcsa-20251231.htm","title":"Comcast Corporation 2025 회계연도 Form 10-K","title_en":"Comcast Corporation 2025 Form 10-K","excerpt":"XUMO는 당사와 차터 커뮤니케이션스의 연결 대상 스트리밍 플랫폼 합작법인이다.","excerpt_en":"Xumo, our consolidated streaming platform joint venture with Charter Communications."},{"stance":"confirms","publisher":"컴캐스트","publisher_en":"Comcast Corporation","kind":"ir","lang":"en","published_at":"2022-11-02","url":"https://corporate.comcast.com/press/releases/comcast-charter-xumo-streaming-platform-joint-venture","title":"컴캐스트·차터, 스트리밍 플랫폼 합작법인 브랜드명 'XUMO'로 확정 발표","title_en":"Comcast and Charter Announce Xumo as the Brand Name for Their Streaming Platform Joint Venture","excerpt":"차터 커뮤니케이션스와 컴캐스트는 오늘 양사의 스트리밍 플랫폼 합작법인이 앞으로 'XUMO'라는 이름으로 사업을 운영한다고 발표했다.","excerpt_en":"Charter Communications, Inc. (NASDAQ: CHTR) and Comcast Corporation (NASDAQ: CMCSA) today announced their streaming platform joint venture will now operate and conduct business as Xumo."}]},{"direction":"cost","counterparty":"Disney","counterparty_slug":"disney","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2023-09-01","basis":"S&P Global이 추정하고 AP가 보도한 Spectrum의 Disney 연평균 채널 공급 대가","value":2200000000,"period":"2019 carriage agreement annual average","basis_en":"Estimated average annual Disney carriage consideration paid by Spectrum, reported by AP citing S&P Global","qualifier":"estimate"},"note":"차터는 Spectrum 유료방송에서 Disney 계열 채널과 스트리밍 서비스를 제공하기 위해 채널 공급 대가를 지급한다. 2019년 계약의 연간 지급액은 S&P Global 추정치를 인용한 AP 보도 기준 평균 22억달러다.","note_en":"Charter pays carriage consideration to offer Disney networks and streaming services through Spectrum pay TV. AP, citing an S&P Global estimate, put the average annual value of the 2019 carriage agreement at $2.2 billion.","sources":[{"stance":"confirms","publisher":"한국콘텐츠진흥원","publisher_en":"Korea Creative Content Agency","kind":"analysis","lang":"ko","published_at":"2024-08-12","url":"https://www.kocca.kr/trend/vol39/file/Broadcasting_Trends_vol39.pdf","title":"방송영상 트렌드 Vol.39: 무한경쟁시대, 국내 유료방송 시장이 나아갈 길","title_en":"KOCCA Broadcasting Trends Vol.39: The Path Forward for Korea's Pay-TV Market in an Era of Unlimited Competition","excerpt":"차터는 디즈니에 지급되는 채널 공급 비용을 인상하고 Disney+와 ESPN+를 패키지에 포함했다.","excerpt_en":"Charter raised carriage payments to Disney and added Disney+ and ESPN+ to Spectrum packages."},{"stance":"confirms","publisher":"AP통신","publisher_en":"Associated Press","kind":"news","lang":"en","published_at":"2023-09-01","url":"https://apnews.com/article/disney-spectrum-cable-stations-cutoff-charter-e23fc3daa2b91df92ad9efe04bd79da0","title":"Disney와 Charter 분쟁으로 수백만 케이블 가입자 방송 중단","title_en":"Ahead of big sports weekend, dispute with Disney leaves millions of cable subscribers in the dark","excerpt":"S&P Global은 2019년 계약에서 Disney가 Spectrum으로부터 연평균 22억달러를 받는다고 추정했다.","excerpt_en":"Disney gets an average of $2.2 billion per year"}]},{"direction":"cost","counterparty":"워너브러더스 디스커버리","counterparty_slug":"warner-bros-discovery","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2024-09-12","basis":"차터의 WBD 선형 채널 및 스트리밍 서비스 장기 배급 계약 대가","value":null,"period":"multi-year agreement announced 2024-09-12","basis_en":"Consideration under Charter's long-term distribution agreement for WBD linear networks and streaming services","qualifier":"confirmed_no_disclosed_value"},"note":"차터는 Spectrum 요금제에 WBD의 선형 채널과 광고형 Max·Discovery+를 묶어 공급하는 장기 배급사이며, 계약 금액은 공개되지 않았다.","note_en":"Charter is a long-term distributor that bundles WBD's linear networks and the ad-supported Max and Discovery+ services into Spectrum packages, and the financial terms were not disclosed.","sources":[{"stance":"confirms","publisher":"Warner Bros. Discovery","publisher_en":"Warner Bros. Discovery","kind":"ir","lang":"en","published_at":"2024-09-12","url":"https://ir.wbd.com/news-and-events/financial-news/financial-news-details/2024/WARNER-BROS.-DISCOVERY-AND-CHARTER-COMMUNICATIONS-ANNOUNCE-EARLY-RENEWAL-AGREEMENT-THAT-FURTHER-REIMAGINES-THE-FUTURE-OF-VIDEO--2024-o5KDIfMNzg/default.aspx","title":"워너브러더스 디스커버리와 차터 커뮤니케이션스, 조기 갱신 계약 발표","title_en":"Warner Bros. Discovery and Charter Communications Announce Early Renewal Agreement","excerpt":"두 회사는 선형 방송과 스트리밍 서비스를 통합하는 다년 배급 계약을 발표했다.","excerpt_en":"The companies announced a multi-year distribution partnership integrating linear video and streaming services."}]}]}