Cablevision Loses 49,000 Video Subs in Q13 May, 2012 By: Erik Gruenwedel
Cablevision May 3 reported a first-quarter (ended March 31) decline of 49,000 video subscribers, resulting in a $16 million drop in video-related revenue, including video-on-demand movies and pay-per-view.
The New York-based cable operator ended the period with more than 3.2 million video subs, generating $868 million in revenue, compared with more than 3.3 million subs and $884 million in revenue during the same period last year.
The declines, which mirror ongoing cable industry trends of consumers downsizing bundled pay-TV packages due to the economy and cheaper home entertainment alternatives, were partially offset by gains in high-speed Internet (83,000) and telephone (104,000) subscribers.
Indeed, the average monthly Cablevision bill increased to $152.53 compared to $149.75 due primarily to rate hikes.