Cablevision Grows Video Subs, VOD6 May, 2010 By: Erik Gruenwedel
Bucking a recent trend among cable operators, Cablevision May 6 reported first-quarter (ended March 31) gains in video subscribers and video-on-demand (VOD), among other premium offerings.
Bethpage, N.Y.-based Cablevision, with more than 3 million subscribers, posted consolidated operating income of $355 million, up 21.6% from consolidated operating income of $292 million during the previous-year period.
More importantly, the company grew video revenue 3.2% to $803 million, from $778 million last year. Video revenue includes same-day (with DVD) new release movies on VOD, pay-per-view, and digital video recorder (DVR), among other services.
Cable market leaders Comcast and Time Warner Cable both reported declines in cable VOD transactions and video subscribers.
Cablevision also grew subscribers for its Rainbow segment, which includes AMC, WE tv, IFC and Sundance channels.
Total revenue increased 5.2% to $1.7 billion, compared with $1.6 billion last year.