Cablevision Focuses on Connectivity

Cablevision System reported mixed results in the first quarter, shedding 28,000 basic video customers and adding about 7,000 high-speed data subscribers, as it continues to move forward with its strategy to focus on connectivity via Wi-Fi and its wireline broadband service. Cablevision lost about 28,000 basic video customers in the period and high speed data subscribers rose by 7,000, compared to a loss of 14,000 video customers and a gain of 8,000 high speed data subscribers in the same period 2014. Voice customers declined by 14,000, compared to a gain of 8,000 subscribers in the first quarter of 2014. Overall revenue was up 2.5 percent to $1.6 billion and adjusted operating cash flow increased 1 percent to $446.6 million.

Cablevision has made several moves to build out the connectivity strategy that CEO James Dolan first talked about in 2014, capitalizing on its robust Wi-Fi network -- it has more than 1 million hotspots throughout its footprint. In February, Cablevision rolled out its Wi-Fi-only phone service Freewheel and was the first cable operator to launch Home Box Office’s standalone broadband product, HBO NOW. Late in April it introduced “Cord-Cutter” packages of high-speed data and a digital over-the-air antenna, and was the first cable operator to ink a distribution deal with Hulu.