Cablevision Systems, less than six months after agreeing to sell itself to Altice Group for $17.7 billion, reported one of its strongest customer relationship quarters in nearly a decade, driven mainly by gains in high-speed data customers.
Cablevision finished the year with 3.1 million total customers, a gain of 2,400 over the prior year, its first year of organic customer relationship growth since 2008. Video customers declined by 10,000 in the fourth quarter and by 43,000 for the full year.
High speed data additions seemed to drive most of the growth, with subscribers in that segment up by 25,000 for the quarter and by 49,000 for the full year. Cablevision has been in the process of transforming itself into a “connectivity” company for the past few years, and has introduced products aimed at younger subscribers who place the speed of the Internet service at a higher priority.