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Like its MSO rivals, Cablevision (NYSE: CVC) saw more subscribers disappear, though it thinks it has a plan to retain the customers don’t leave out of economic hardship and more inclined to choose an over-the-top service instead: the expansion of its iPad in-home viewing app to the iPhone and iPod touch.
Cablevision’s Optimum App for iPhone and iPod follows the iPad version that debuted in April and allows viewers access to 300 channels of live TV and thousands of VOD titles. It also comes with DVR management, interactive guide information and search, and serves as an extra remote control. (More details in the release)
While that’s a nice little bonus, given that many cable households already have multiple TV sets in their home, it’s hard to say how attractive watching a show in another room on your mobile device really is.
Neverthless, Cablevision’s financial performance remained pretty healthy, if below analysts’ expectations, despite the drop of 23,000 video customers, which was partly related to the continuing economic weakness in Q2 as well as increasing encroachment on the Long Island MSO’s turf from Verizon’s FiOS.
Apart from that, for the past few quarters, the Newsday business has been too small and weak for the company to break out results. Instead, the Long Island newspaper’s performance is reflected in the “other” category, along with News 12 Networks, MSG Varsity, Clearview Cinemas, Cablevision Media Sales (fka “Rainbow Advertising Sales”) and sundry administrative and operating costs.
The company did note that, not surprisingly, revenues were down at Newsday (as they are for most newspaper companies) and that the overall “other segment” was essentially flat (down 0.6 percent) at $116.4 million. Revenue growth at News 12, Clearview and Cablevision Media Sales helped to balance out the Newsday declines.