Mediacom's basic subscribers decline in second quarter

Fri, 08/12/2011 - 8:35am
Mike Robuck

Mediacom Communications joined the familiar refrain of other cable operators in this morning's second-quarter earnings report: increased revenues but a continued loss of basic video subscribers.

Under the direction of founder and CEO Rocco Commisso, Mediacom Communications became a private company earlier this year, so today's second-quarter earnings results were more of a snapshot than what was provided in the past. The selected results were from Mediacom subsidiaries Mediacom Broadband and Mediacom LLC.

On the basic video subscriber front, Mediacom lost 20,000 subscribers from March 31 to June 30. Mediacom did post slight increases in its data and phone subscribers over the same period.

Three months ended June 30, 2011 March 31, 2011 June 30, 2010
Basic subscribers 634,000 654,000 677,000
High-speed data subscribers 470,000 469,000 447,000
Phone subscribers 177,000 175,000 168,000
Primary service units (PSUs) 1,281,000 1,298,000 1,292,000
Digital customers 415,000 421,000 394,000
Revenue-generating units 1,696,000 1,719,000 1,686,000
Average total monthly revenue per basic subscriber $113.75 $109.17 $104.16
Average total monthly revenue per PSU $56.81 $55.40 $55.09

Mediacom posted increased revenues across its video and data services, as well as in its advertising business, but its phone revenue was slightly down.

Three months ended June 30, 2011 March 31, 2011 June 30, 2010
Video $131,297 $130,949 $131,166
High-speed data $59,166 $56,282 $53,476
Phone $17,175 $17,270 $16,191
Advertising $12,120 $11,155 $12,437
Total revenues $219,758 $215,656 $213,270

Mediacom, the nation's eighth-largest cable operator, announced earlier in the month that it would build its new corporate headquarters on a 200-acre site in Blooming Grove, N.Y. When completed in the fall of 2012, the 110,000-square-foot facility will become the base of operations for Mediacom's corporate staff, now located in Goshen and Middletown, N.Y.


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