Cablevision Loses 14,000 Video Subscribers28 Feb, 2012 By: Erik Gruenwedel
Cablevision Feb. 28 reported a decline of 14,000 video customers in the fourth quarter (ended Dec. 31).
The Bethpage, N.Y.-based cable operator, which claims more than 3.5 million subscribers, cited macroeconomic events such as extended power outages from Hurricane Irene and ongoing housing market issues for the 47% drop in earnings to $60.6 million, compared with income of $113.8 million during the previous-year period.
Some observers say cable operators are losing video subs due to increased competition from lower-priced subscription video-on-demand services such as Netflix, Hulu Plus and Amazon Prime, among others. Cable operators and Netflix deny such trends.
Regardless, Cablevision, which lost 19,000 video subscribers in the third quarter, dropped 64,000 net video subscribers in 2011.