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The Company is the 10th largest cable television system operator in the United States based on customers served, with approximately 1,046,000 customers as of December 31, 1998, on a pro forma basis.
The Company offers its customers a full array of traditional cable television services and programming offerings. All of its customers receive a basic service of up to 17 channels of television programming.
Approximately 94% of its customers choose to pay an additional amount to receive up to 50 additional channels under its classic service. Premium channels, which are offered individually or in packages of several channels, are optional add-ons to the basic service or the classic service. As of December 31, 1998 on a pro forma basis, premium units as a percentage of basic subscribers was approximately 77%. The Company tailors both its basic line-up and its additional channel offerings to each regional system in response to demographics, programming preferences, competition, price sensitivity and local regulation. In most of its digital launches, the Company is providing a package of digital services, known as Digital Gateway. For $6.95 per month, its customers can purchase Digital Gateway and receive the following services: A digital converter box; An interactive navigational program guide for all analog and digital channels; A local, interactive Internet-style service; A significant multiplexing of premium channels for customers who separately subscribe to premium channels, such as HBO and Showtime; Pay-per-view video-on-demand; and A digital 40-channel audio music service. The Company has entered into a letter of intent with Source Media, Inc. to provide their LocalSource product in its Digital Gateway. The LocalSource product is designed to deliver the Internet experience to the television platform.
LocalSource delivers interactive programming that is both informative and entertaining and provides extensive communications tools to support interaction between customers, advertisers, sponsors, merchants and direct marketers resulting in multimedia addressable advertising opportunities for both local and national advertisers. Other LocalSource applications that are under development include CableMail and SourceNet. CableMail will allow customers to have e-mail accounts accessible from their television sets and SourceNet will provide Internet access to the World Wide Web, also through the set top box and the television set. The Company believes that LocalSource is a compelling introduction to cable's broadband capability which will stimulate early demand for data services and make cable a more essential service for the customer, resulting in increased customer satisfaction and penetration and reduced churn.
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