Cable Could Lose Video Users In 3Q: Miller Tabak
30 August 2011 - 3:25AM
Dow Jones News
Cable-television operators could see a decline in video
subscribers during the third quarter due to ongoing "high
unemployment and low housing sales activity," according to a Monday
note from Miller Tabak & Co. analyst David Joyce. Joyce said
consumers also are taking advantage of various online video
alternatives, such as the services offered by Netflix Inc. (NFLX)
and Hulu. The analyst said cable's operating income before
interest, depreciation and amortization growth is "generally
slowing" due to defections by video customers. In recent years,
broadband service has become the most important offering for cable
companies, partly because of the need for a fast connection for
online video viewing. Top cable operators include Comcast Corp.
(CMCSA, CMCSK), Time Warner Cable Inc. (TWC), Cablevision Systems
Corp. (CVC) and Charter Communications Inc. (CHTR). Cable stocks
were higher in Monday trading, in step with a broad market
rally.
-David B. Wilkerson; 415-439-6400; AskNewswires@dowjones.com
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