Time Warner Cable's (NYSE:TWC) "TV Essentials" Doesn't Cut it Says Barclays (NYSE:BCS)

Time Warner Cable (NYSE:TWC) developed their "TV Essentials" service to compete against DBS for those buying based on pricing, but Barclays (NYSE:BCS) doesn't see it being the game-changer TWC was hoping for.

Barclays said, "TV Essentials Is Unlikely to Appeal To Cord-Cutters; Target Is Low-Cost DBS Plans, Especially From DISH Network (Nasdaq:DISH). We don't believe that the TV Essentials package will appeal to cord-cutters, or those just looking to eliminate the cost of sports programming:

(a) it's still well above the cost of Netflix (Nasdaq:NFLX) or Hulu,
(b) a customer who takes it would lose any bundled discount for data service (necessary for over the top),

(c) TV Essentials doesn't allow for DVR or HD service, and

(d) the package doesn't include major non-sports channels like TNT."

Time Warner Cable closed Friday at $62.69, dropping $0.06, or 0.10 percent.