Increased competition is not stopping municipal cable company officials from projecting the venture will turn a profit this year.
Broadband Manager Daryl Hanson told selectmen last night the company is currently on pace to make roughly $160,000 this fiscal year, despite the entrance of Verizon into town.
Last August, Verizon Communications joined Norwood Light Broadband and Comcast in offering cable, Internet and phone services in town.
In January, Hanson informed selectmen an average of 70 cable customers a month were leaving Norwood Light Broadband, presumably due to increased competition. But last night, Hanson said, Norwood Light Broadband is also pulling in new customers to compensate as well as cutting expenses.
"At this point, our projections are looking like they'll come out positive," Hanson said.
Hanson said the company recently reached a deal to provide services to the Stonebridge apartment complex on Dean Street, which he said should help attract some new customers. He also said there is a lot of demand for the voice-over Internet protocol telephone service.
"The phone service is really selling like hotcakes," said Hanson.
Selectman Bill Plasko said the projected profit is more impressive considering the added competition.
"This is right on line with what the projections were before there was any new competition, so we're actually doing pretty well," Plasko said.
Selectman Tom McQuaid said he would like to see monthly financial updates on the company to keep the board informed.
Hanson said the company is continually promoting its packages and launching new channels and video-on-demand content. Recently, Hanson said the company added TNT in high definition, which he said is timely for viewers wanting to watch the NBA playoffs in high definition.
"We're always looking to add new things," said Hanson.
Norwood Light Broadband is also the only company to offer a local programming library on-demand, so viewers can access a continually updated library of old government meetings, sporting events or any available local programming events.
Town Meeting, in 2001 and 2002, approved two borrowings totaling $10.9 million to start Norwood Light Broadband as a way to generate additional revenues.
The town also operates its own Electric Light Department.
Daily News staff writer Brian Falla can be reached at 781-433-8339 or bfalla@cnc.com
