Mediacom’s Q4 revenues up; video subscribers down
Today, privately held Mediacom Communications released unaudited financial results for last year and the fourth quarter, which included an increase in revenues and a loss of 67,000 basic video subscribers.
Mediacom’s fourth-quarter basic video subscribers went from 663,000 in the same quarter a year ago to 596,000 on Dec. 31. On the data front, Mediacom added 9,000 new customers to finish the quarter with 468,000. Phone customers increased slightly, from 175,000 a year ago to 180,000.
The company’s digital customers increased from 409,000 to 415,000, but revenue-generating units declined to 1.66 million, compared with 1.71 million a year prior.
Mediacom Communications’ Mediacom Broadband subsidiary posted fourth-quarter revenues of $219.1 million, which was a 2 percent increase from the prior-year period. For the year, revenue climbed 3.2 percent to $874.8 million.
The Mediacom LLC subsidiary’s revenues were $167.9 million in the fourth quarter, a 2.3 percent increase from the same period a year ago, with a 3.7 percent increase for the full year to $675.6 million.
For the year, Mediacom Broadband lost almost half of a percent in revenues from its video business, to finish with $516 million. On the plus side, data increased 11.4 percent to $238 million, while phone revenues were up 9 percent to $70.2 million.
Mediacom and its subsidiaries went private last year under the direction of founder and CEO Rocco Commisso.