The chief executive of closely watched Internet TV start-up Aereo said on Tuesday that the controversial company had turned a profit in some of its markets, and is also looking for broadband partners to pair with its service.
Speaking at an investor conference hosted by UBS, Chief Executive Officer Chet Kanojia said it takes about 6,500 subscribers in a city to break even and that some markets had already turned profitable.
He did not identify the markets, but said cities such as Denver and Detroit were performing well, while the expansion into Miami was disappointing. New York, where Aereo is based, had a mediocre start, but is showing a turnaround.
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Aereo was launched in March 2012 at $12 per month in New York and has since expanded to about 10 cities with plans to enter several more next year.
It lets subscribers stream live broadcasts of TV channels on phones, tablet computers and other devices using individual antennas. Users can watch the major broadcast networks such as CBS, NBC, FOX, ABC, the CW, PBS, Telemundo and other channels.
Its largest investor is IAC, which counts Barry Diller as a chairman. Diller has been a vocal proponent of Aereo, taking on its opponents publicly, whether they are broadcasters or the National Football League.
The TV industry sees the service as a threat to its ability to control subscription fees and generate advertising income, its two main sources of revenue.
In October, broadcasters ABC, which is owned by Walt Disney, CBS, Comcast's NBC Universal and Twenty-First Century Fox, asked the Supreme Court to hear their case claiming the online service steals copyrighted television content. (Disclosure: NBCUniversal is the parent company of CNBC and CNBC.com.)