Suddenlink gains 200 basic video subscribers during Q3 2012
Suddenlink's focus on deploying advanced video products such as the TiVo (Nasdaq: TIVO) Premiere DVR helped it grow its video subscriber base by 200 customers during the third quarter, with the MSO ending the period with 1,233,300 subscribers. It also picked up 24,900 digital cable, 17,400 cable modem and 7,100 residential telephone customers.
Last month, Suddenlink deployed the TiVo Stream device, which lets subscribers with a TiVo Premiere DVR watch live video on Apple's iPad and other mobile devices within their home. Suddenlink plans to deploy the TiVo Mini companion set-top, which turns Premiere into a multi-room DVR, early next year, CEO Jerry Kent told analysts on the company's earnings call Friday.
Suddenlink is raising the rates on its programming packages during the fourth quarter, Kent said, noting that retransmission-consent deals Suddenlink has struck this year with broadcasters contributed to its rate hike. "We are in the process of informing our subscribers, and will be notifying our customers of rate increases, including retransmission-consent pass through, and that will be implemented basically as we speak," Kent added.
Also worth noting from Suddenlink's third-quarter earnings report and investor call:
- Suddenlink has deployed DOCSIS 3.0 technology to 93 percent of its customers, while 98 percent of subscribers have access to HDTV programming. The average Suddenlink system offers 85 HD channels, while some markets offer more than 100 HD channels.
- Subscribers watched 4.52 million video-on-demand titles in September, which was an 18 percent increase compared to September 2011. Suddenlink features about 10,000 titles in its VOD library, including more than 2,000 HD titles.
- Suddenlink counted 240,800 non-video subscribers at the end of the third quarter, up from 209,200 last year, suggesting more subscribers are relying on high-speed Internet access to watch video programming.
- Suddenlink generated $511.9 million in third-quarter revenue, up 6.1 percent compared to the same period last year. It posted $22.1 million in net income, compared to a net loss of $5.2 during Q3 2011.
- see the release
Special Report: Cable in the third quarter of 2012