(Courtesy photo)

Altice continued to see erosion in its Optimum pay television business, with around 62,000 residential disconnecting their cable TV service during the company’s fourth financial quarter (Q4) of 2023.

At the end of 2023, the number of residential customers paying for Optimum TV was 2.172 million, representing a year-over loss of 226,700 video customers during the year, the company revealed.

Another 113,900 residential customers stopped paying for Optimum Internet during 2023, the company reported, with around 4.169 million signed on for Altice’s land-based broadband service by the end of 2023.

The erosion came despite Altice reconfiguring some of its customer broadband rates, which saw most subscribers paying slightly less for high-speed Internet. The subscriber losses combined with the lower rate for broadband Internet propelled a financial loss of $117.8 million during Q4 2023, the company said. Revenue for the year came in at $2.3 billion, closely aligned with expectations from Wall Street analysts of $2.29 billion.

“2023 marked the beginning...