Revenues up at Cablevision, Charter and Mediacom

10 Nov 2008

New York cable operator and media group Cablevision Systems has reported a net profit of USD27.1 million for the three months to the end of September, reversing a USD79.3 million loss from the year-ago quarter. Revenues were up 15.4% at USD1.75 billion, boosted by subscriber growth and its acquisitions earlier this year of new cable networks and the Newsday newspaper. Though the firm lost 19,000 basic cable TV subscribers in the third quarter it did add 25,000 digital video customers, as well as 31,600 high speed internet subscribers and 58,000 digital phone lines.

Two other US cable operators have also reported gains due to subscriber growth. Missouri-based Charter Communications, the country’s third largest MSO, saw revenues rise 7% to USD1.64 billion, while it narrowed its third-quarter net loss to USD322 million from USD407 million in 3Q 2007. Charter said average monthly revenues per user have grown 11% over the past year to reach USD106.07. It added more than 70,000 net new broadband internet customers and 98,000 new phone customers in the third quarter. It now serves around 5.6 million customers across 28 states. Meanwhile, Mediacom Communications, based in New York State, has reported a 7.4% increase in third-quarter sales to USD352.6 million, with operating income up 28.4% at USD71.2 million. Average monthly revenue per basic subscriber increased 8.6% to USD88.86.