Cablevision (NYSE: CVC) has signed only 1,600 subscribers to its OMGFAST wireless broadband service in Florida as of Jan. 31, the company disclosed in its annual report on Thursday.
The microwave service, which uses multichannel video distribution service (MVDDS) spectrum, is available to about 90,000 homes in Broward and Palm Beach Counties. OMGFAST has achieved a penetration rate of 1.8 percent, based on the data Cablevision has disclosed about its availability and subscriber count.
Cablevision stepped up marketing efforts for the wireless broadband service last summer, when it changed its brand from Clearband to OMGFAST. The company has signed former New York Jets quarterback Joe Namath and his daughter Jessica Namath to pitch OMGFAST in commercials that it is running in Florida.
OMGFAST announced an aggressive promotion on Wednesday, in which it is offering new subscribers who sign up for its 50 Mbps service by April 30 a "lifetime guarantee" that its monthly subscription fee will remain at $29.95. Subscribers can also lease an Apple TV or Roku set-top from the company for $5 monthly.
Cablevision sold its MVDDS spectrum licenses to Dish Network (Nasdaq: DISH) last fall but is leasing four spectrum licenses in Florida from Dish so it can continue to operate OMGFAST. It announced this week that it will expand the OMGFAST footprint to parts of Miami-Dade county this year.
Cablevision also disclosed in its annual report that a subsidiary of its Optimum West division owns three spectrum licenses that would allow it to provide wireless broadband service in parts of Montana and Wyoming. It recently agreed to sell the former Bresnan Cable systems operated by Optimum West, including the spectrum licenses, to Charter Communications (Nasdaq: CHTR).
- see Cablevision's annual report
Cablevision expanding OMGFAST wireless broadband service to Ft. Lauderdale, Miami-Dade County
Cablevision launches 'OMGFAST' wireless broadband service
Cablevision signs Joe Namath to pitch OMGFAST wireless broadband service
Cablevision leasing Apple TV box for $5 monthly to OMGFAST subscribers
Voom deal makes Dish Network biggest holder of MVDDS broadband wireless spectrum
Cablevision sells Optimum West to Charter for $1.6B