Advanced Television

Altice USA loses video subs

August 1, 2024

Altice USA lost 291,000 video customers year-on-year amid industry-wide cord-cutting and TV viewers shifting online. It shed 72,800 in Q2. The cable operator finished the year with 2.02 million pay–TV subscribers.

The company serves around five million residential and business cable customers across 21 US states and through its Optimum brand. To retain video customers, the cable operator recently announced an upcoming $30 per-month Internet-delivered Entertainment TV package for subscribers.

Dennis Mathew, Altice USA Chairman and Chief Executive Officer, commented: “In the second quarter our company achieved significant improvements in operational metrics and customer satisfaction, growth in our fiber, mobile, and B2B businesses, and continued stabilisation of ARPU across our base. We elevated product and network quality, introduced refreshed go-to-market strategies, which are starting to gain traction, and launched Entertainment TV, Optimum’s new low-cost internet TV package available exclusively on Optimum Stream, providing more choice and flexibility for customers. Looking ahead, we have an innovative roadmap of future product and experience enhancements that we are eager to bring to current and prospective customers this year and beyond, and we remain focused on advancing network and service quality, driving profitable customer relationships, and maintaining financial discipline.”

Altice USA concluded the second quarter with 4.4 million broadband subscribers. The company added 33,000 mobile phone customers during the quarter.

Net income fell to $15.4 million against $78.3 million recorded a year ago. Revenue fell 3.6 per cent to $2.2 billion during the latest financial quarter.

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