Cable revenue rose 3.1% and adjusted operating cash flow was down 4.6% in the fourth quarter at Cablevision Systems, as a decline in basic video customers offset gains from rate increases and higher advertising revenue.
Cablevision lost about 34,000 basic video customers in the quarter (compared to analysts’ consensus estimates of a loss of 27,000 customers) and gained just 4,000 high-speed Internet customers. Voice customers declined by 11,000 in the period.
Cable revenue was $1.45 billion for the period and AOCF at the cable systems was $441.1 million, highlighted by a 5.3% gain in average monthly revenue per customer to $155.20 and a 9% increase in cable ad revenue.
For the full year, cable revenue rose 3.7% to $5.8 billion and AOCF increased 5.4% to $1.8 billion.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.