A Message from Our President and CEO
As we start off 2020, I hope we can all find some time to reflect on what was a momentous year.. There were highs and lows, curve balls and fastballs, but it added up to a successful 2019.
At Cox Communications, we were firing on all cylinders. The number of customers calling and requiring help with service was down dramatically. We added 100K new residential and business customers, despite the current video revolution taking place. Amazon, Apple, Disney and others all launched new over-the-top video products which impacts our video subscriber numbers, but only accentuates the importance of our broadband service. Cox Business also continued to thrive; it’s bigger than ever and remains a huge part of our business.
We received a shocking jury verdict at the end of December from the U.S. District Court, Eastern District of Virginia, which held us liable for the bad behavior of a small number of our customers who “pirate” music without paying for it. We will vigorously defend our good name and ensure we have the best practices in the industry. I know we have the highest sense of responsibility and integrity and we will make sure our opponents know that.
Despite this court verdict, I’m completely confident CCI will continue its positive momentum next year. Let’s do this!
Cox Automotive was flush with vehicles this year — something I know our automotive folks really enjoy. There were a lot of cars going through our auctions, and for the first time, more than half were handled digitally. This milestone makes Cox Automotive a majority digital business and lays the groundwork for good years ahead where the world of mobility will be increasingly digital, connected and autonomous. Many of our smaller software businesses have been growing leaps and bounds, and in aggregate, our retail solutions group is now approaching half of our total automotive business.
Way to go all around, team!
Certainly the most difficult choice we made in 2019 was the decision to sell a majority of Cox Media Group. Everyone involved agreed it was the right thing to do for the business, but saying goodbye to so many people we’ve worked with through the years was hard. The good news is that they won’t be far and they have a lot of great things to look forward to as the new Cox Media Group grows into the future.
Meanwhile, our strategy group made a number of investments in areas like eSports, healthcare and Cleantech that we’re really excited about. Whether it’s turning waste into energy, producing food with less water and toxic chemicals, or helping people live longer, our strategy team is focused on building for our future.
It’s exciting, but as you all know so well, business is tough. Just when you think everything is going well, something hits you right between the eyes. And just when you think you can’t catch a break, you’re reminded of how lucky you are.
And that’s what I want my final thoughts on 2019 to be ...
We at Cox are surrounded by the greatest people in the world. We’re brought together by a commitment and an enthusiasm to leave the world in better shape for the next generation. We’re inspired by each other and motivated to solve pressing problems — here at work and in our hometowns and communities.
In a world with so much division and disagreement, I’m hopeful that Cox will always be a unifier. A place where different people come and work together for the benefit of our world. And no matter what we face, no matter how hard the challenge, we are always supported in doing the right thing. The Cox family is committed to supporting you in that noble pursuit and we thank you — from the bottom of our hearts.
President and Chief Executive Officer