Altice to offer single service to replace cable boxes, modems
Altice USA Inc., provider of Optimum cable television, internet and telephone services, will begin selling a new service on Monday that reduces the amount of equipment in customers’ homes and businesses, executives said.
The Bethpage-based company announced Thursday its Altice One service, which replaces cable boxes, routers and modems with a single box for each customer.
The announcement coincided with Altice USA’s quarterly earnings release. The company’s loss widened in the July-September period compared with the same quarter in 2016. Revenue increased modestly, year over year.
Altice CEO Dexter Goei said the Altice One service is being made available first to new customers on Long Island who purchase multiple services, such as broadband and cable or broadband, cable and telephone.
The service includes a mobile app, voice-activated remote control and access to content on YouTube, Pandora and other entertainment websites. Goei called it “an all-in-one video, broadband and phone service” while speaking on a conference call with journalists.
Asked about the cost of the service, he said, “What we are going to be able to do is eliminate the charges for multiple devices . . . in terms of the overall cost of the rental equipment, customers will pay probably quite similar price levels as they are today.”
Altice, which went public this summer, reported a loss of $182 million for the July-September period compared with a loss of $173 million a year earlier. The increase was due primarily to paying off debt and deferred financing costs.
Revenue increased 3 percent in the quarter to $2.3 billion as the company’s customer base remained relatively stable with about 5 million customers in 21 states.
The earnings announcement came after the stock market close. In after-hours trading on the New York Stock Exchange, Altice shares were up 25 cents, or 1 percent, to $24.75.
Altice USA was formed last year by parent Altice N.V. of the Netherlands after its purchase of Bethpage-based Cablevision Systems Corp. and Suddenlink of St. Louis.
Altice owns one quarter of Newsday Media Group.