Sub Growth Flat at Cable One7/30/2004 5:21 AM Eastern
Cable One Inc. said it had 711,900 basic subscribers as of June 30, versus 714,500 at the end of June 2003.
The Washington Post Co.-owned MSO pinned the blame on a $2-per-month basic-rate hike it instituted at most of its systems March 1.
Cable One said revenue-generating units, as defined by the National Cable & Telecommunications Association’s standard reporting categories, totaled 1,084,600 versus 1,025,400 as of June 30, 2003.
Digital-cable subscribers as of June 30 totaled 220,400, down slightly from 222,900 Dec. 31, 2003, but up from 203,900 at the end of June 2003. The MSO said its digital-customer total represents a 31% penetration of its subscriber base.
High-speed data was a bright spot, as Cable One reported 152,300 subscribers compared with 106,600 at the end of June 2003.
Second-quarter-2004 revenue of $126.4 million was up 10% from $114.6 million in the year-ago period, while operating income rose 19% to $25.2 million from $21.2 million.