It was a rough 1st quarter of 2023 for Atlice’s cable TV service Optimum. It reported loses for internet, video, and telephone customers.
According to their report, Atlice’s Optimum cable TV service lost 19,200 internet customers, 58,600 TV customers, and 60,600 telephone customers.
“Altice USA’s first quarter results reflect a continuation of the strategy we introduced in February centered on growing our broadband and mobile businesses to set a path to return to sustainable customer, revenue, and cash flow growth. The Company made significant progress in driving key initiatives to increase the reliability and performance of our networks and enhance our products and customer experience, which contributed to an exceptional quarter in terms of broadband network construction as well as the best ever fiber net additions. As we move through 2023, we will continue to build on our go-to-market strategies to provide customers with seamless connections, flexibility and simplicity as evidenced by this week’s introduction of Optimum Complete, which combines our powerful internet and mobile products into one bundle to deliver the full portfolio of Optimum connectivity solutions at a great value. We have a relentless focus on providing the best customer experience through the most advanced networks, and we are optimistic that we will be able to leverage our investments to grow our business and become the connectivity provider of choice across all the communities we serve.” Said Dennis Mathew, Altice USA Chief Executive Officer.
Revenue was also down to $2,293,978 from $2,421,897 in the same period during 2022.
The one bright spot was that Optimum added 15,000 wireless customers and now has about 248,000 mobile customers in total.
Optimum also announced new five-gig and two-gig internet services with a plan to launch an eight-gig service in 2023.
Optimum is facing new competition from services like T-Mobile home internet. As Optimum lost internet customers, T-Mobile added 523,000 home internet customers.
The question now is how Optimum will turn around its losses, especially with home internet.