You will be redirected back to your article in seconds

Video sub losses knock Cablevision

Dropped subscriptions hit cabler's bottom line

Big New York-area cabler Cablevision Systems Friday saw earnings for the September quarter fall, revealing a loss of 19,000 video subscribers from the previous 3-month period partly offset by an uptick in voice and high-speed Internet biz.

Net income plunged to $40 million from $112 million. Company cited higher programming, sales and marketing costs as well as a $16 million hit from Hurricane Irene in the New York metro area in late summer.

Revenue rose 8% to about $1.7 billion, including contributions from Bresnan, a smaller cable operator acquired last December. Excluding Bresnan, Cablevision said revenue would have been essentially flat.

Cablevision’s numbers emphasized what Time Warner Cable illustrated the day before, a slippage of video subs to competition from telecom services like Verizon’s Fios and possibly, although it’s still early days, nascent inroads by new video streaming services like Netflix and Hulu and others.

The company had 3.626 million customers at the end of Sept. The number of video customers dipped 19,000 to 3.264 from the quarter ended in June.

On the upside, the company added 17,000 new voice customers and 38,000 new high-speed data customers.

More TV

  • Comedian Hari Kondabolu on Making 'The

    Comedian Hari Kondabolu on Making 'The Problem With Apu'

    Big New York-area cabler Cablevision Systems Friday saw earnings for the September quarter fall, revealing a loss of 19,000 video subscribers from the previous 3-month period partly offset by an uptick in voice and high-speed Internet biz. Net income plunged to $40 million from $112 million. Company cited higher programming, sales and marketing costs as […]

  • Jeffrey Tambor

    Jeffrey Tambor Departs 'Transparent' Amid Sexual Harassment Allegations

    Big New York-area cabler Cablevision Systems Friday saw earnings for the September quarter fall, revealing a loss of 19,000 video subscribers from the previous 3-month period partly offset by an uptick in voice and high-speed Internet biz. Net income plunged to $40 million from $112 million. Company cited higher programming, sales and marketing costs as […]

  • EuropaCorp Sells French TV Production Unit

    Luc Besson's EuropaCorp Sells French TV Production Unit for $13 Million

    Big New York-area cabler Cablevision Systems Friday saw earnings for the September quarter fall, revealing a loss of 19,000 video subscribers from the previous 3-month period partly offset by an uptick in voice and high-speed Internet biz. Net income plunged to $40 million from $112 million. Company cited higher programming, sales and marketing costs as […]

  • 'Saturday Night Live' Addresses Al Franken

    'Saturday Night Live' Addresses Al Franken Sexual Assault Allegations: 'This is Bad' (Watch)

    Big New York-area cabler Cablevision Systems Friday saw earnings for the September quarter fall, revealing a loss of 19,000 video subscribers from the previous 3-month period partly offset by an uptick in voice and high-speed Internet biz. Net income plunged to $40 million from $112 million. Company cited higher programming, sales and marketing costs as […]

More From Our Brands

Access exclusive content