Cable Bahamas Ltd. has announced that its newly approved 27 percent price hike for what was formerly its basic service will take effect next month. Also next month, Cable Bahamas will launch the new $10 service, to be known as REVTV Prime Local.
The REVTV Prime service -- formerly basic -- will go from $30 to $38 for residential customers and from $50 to $64 for business customers. Cable Bahamas stressed that these changes will only impact customers on the islands of New Providence/Paradise Island, Grand Bahama, Abaco and Eleuthera.
"Customers in the Family Islands will be unaffected by this rate change," the company said.
Cable has applied for five price increases over 21 years, most recently in October 2014. After a broad consultation process and a detailed review, the Utilities Regulation and Competition Authority (URCA) approved Cable Bahamas' application to increase the price of REVTV Prime -- formerly basic.
In a press release announcing the price change, Cable said, "This is the first increase in rates since the introduction of the service into The Bahamas in 1995, and it allows Cable Bahamas Ltd. to address its escalating channel costs, pay staff competitive wages and maintain best possible services."
Cable also announced that it will launch a new REVTV Prime Local package option.
"This will comprise six channels: ZNS TV, Parliamentary Channel, Jones Communications Network (JCN), Bahamas Christian Network (BCN), PBS and Cala Weather. This standalone local package will be available at a monthly subscription cost of $10.00," the company said.Cable explained that operational costs, channel fees, employee salaries and license amounts have gone up exponentially. This, the company asserted, is the first application to be approved and, as such, is the first ever rate increase for cable television service since service inception in March 1995.
"This adjustment will enable Cable Bahamas Ltd. to continue to match Bahamian customers' demands for better programming, while allowing the company to maintain its position as an innovator at the forefront of the industry and continue to attract and maintain the best Bahamian staff," the company said.
Meanwhile, Cable Bahamas VP of Marketing David Burrows said, "We were pleased to see this rate approval completed, as it allows us to continue to run on par with significant cost increases in our business over the past 21 years. This price increase has been long overdue and will only serve to enhance the quality of video services in The Bahamas."
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