Vonage Grows Phone Customers2/15/2007 7:55 AM Eastern
Cable operators and telephone providers continue to lose potential voice subscribers to top Internet-telephone provider Vonage.
The company -- which relies on high-speed-Internet connections from cable operators and telcos to reach customers -- said it added 955,000 net subscribers in 2006, including 166,000 in the fourth quarter.
Although thousands of high-speed-Internet customers of Comcast, Time Warner Cable, Verizon Communications and AT&T rely on Vonage to make local and long-distance calls, Vonage doesn’t share subscriber fees with telecommunications players.
The only companies Vonage shares revenue with are operators that have agreed to jointly market Vonage to their subscribers, including Mid-Hudson Cablevision, Armstrong Cable, and CableAmerica.
Vonage posted a net loss of $286 million, or $3.05 per share, for the full year, according to earnings released Thursday. It narrowed its loss in the fourth quarter to $65 million from $72 million during the same period last year.