Is Cablevision about to launch a Netflix competitor, too?

Cablevision Systems Corp. (s CVC) CEO James Dolan calls his blues band “The Straight Shot,” but noted media technology analyst Richard Greenfield and his colleagues at BTIG Research don’t believe he was straight Thursday about his company’s intentions to launch a subscription video-on-demand service.

“We believe that Cablevision is looking to launch a service similar to Comcast’s Streampix (s CMCSA) later this year,” Greenfield blogged Thursday, shortly after Cablevision reported the addition of 7,000 multichannel subscribers during its first-quarter earnings call.

Now, Dolan (pictured) didn’t say anything during Thursday morning’s call about this — in fact, in his blog, Greenfield griped that Dolan didn’t respond to any of his questions or concerns.

But as supporting evidence for the assertion that an SVOD platform is on the way, Greenfield noted that Cablevision referenced “unspecified software investments” during the call.

“While timing is uncertain, we believe Cablevision is concerned about the coming Verizon/Redbox joint-venture that is expected to launch (in beta) this summer,” he added. “We want to understand how much capital Cablevision is planning on spending on the project and how it will be marketed to consumers.”

As for that earnings report, fortunes seem to be picking up for Cablevision on the multichannel side, with the company adding more video subscriptions in the New York metropolitan area than in any quarter since the early recessionary period of Q2 2008.

And as it is for most cable companies these days, broadband services are growing, too, with the company adding 41,800 high-speed data subscriptions in the second quarter.