Cablevision Systems (NYSE: CVC) posted positive second quarter results that reflected its emphasis on multiservice bundles. Unlike many of its cable brethren (at least those who have discussed it publicly) Cablevision also is working on a trial of IPTV applications that leverages its cable TV assets.
From a financial perspective, Cablevision sales were up 5.8 percent, peaking at $1.8 billion and adjusted cash flow climbed 9 percent to $677.6 million. Unlike other cable operators, the MSO said it gained 2,900 basic video subs during the quarter, although the total number was still down 26,200 from a year ago.
The IPTV trial was an indicator that Cablevision is perhaps pursuing--or at least spearheading--a new way of delivering its content. "We're working to deliver the full richness of our cable television service to IP-capable video display devices like iPad tablets and smartphones in the home," COO Tom Rutledge explained during a conference call. "Eventually these devices will become additional authorized and trusted access."
Very much like Comcast (Nasdaq: CMCSA), Cablevision is repositioning itself as a "new products" company with a desire "to consistently enhance our customers' experience with the goal of providing more convenience."
- see this news release
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