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Cablevision: HD Subs Up 78 Percent
The cable operator issues its second quarter report.
By Swanni
 
Washington, D.C. (August 8, 2007) -- Cablevision today said it had 809,000 High-Definition TV subscribers at the end of the second quarter.

That's an increase of 78 percent over the last year, the cable operator said.

Cablevision now offers 40 high-def channels, including the 15-channel suite from Voom Networks, which is owned by Cablevision's Rainbow Media.

"
We continue to make our HD offering more attractive and most recently have added the 15 VOOM HD networks all at no additional charge to our customers," Tom Rutledge, Cablevision's COO, said today during an investors call with analysts.

Cablevision also reported that Rainbow Media's net revenue increased 16 percent in the second quarter, largely due to increased programming fees for Voom which is now carried by several international TV providers as well as Cablevision and EchoStar in the U.S.

The cable operator, which provides service in the tri-state New York area, also reported higher-than-expected profits for the second quarter.

But Cablevision reduced its annual cable subscriber and revenue forecast, noting the "expectation that the company will remain in a competitive environment."

Verizon's new FiOS TV service has targeted Cablevision's viewing area with an aggressive marketing campaign and the latter revealed today that it has increased its marketing budget to counter the effort.

"We have upped our marketing spending so that our position in the marketplace is not drowned out by that kind of marketing," Rutledge said.

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Swanni (Phillip Swann) is president and publisher of TVPredictions.com. He has been quoted in dozens of publications and broadcast outlets, including CNN, Fox News, Inside Edition, The New York Times, The Washington Post, The Chicago Tribune, The Financial Times, The Associated Press and The Hollywood Reporter. He can be reached at swann@tvpredictions.com or at 703-505-3064.


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