Mediacom adds more data subs to help offset video losses
Privately held Mediacom Communications released unaudited financial results for the first quarter, which included a boost in data subscribers that somewhat offset its basic video subscriber losses in the quarter.
Mediacom reports its subscriber and revenue numbers under two subsidiaries: Mediacom LLC and Mediacom Broadband. Mediacom Broadband’s video subscribers went from 654,000 in the same quarter a year ago to 591,000 in the quarter that ended March 31.
High-speed data subscribers increased from 469,000 a year ago to 489,000, while voice customers went from 175,000 to 189,000.
Over on the Mediacom LLC side of the ledger, the company’s video subscribers went from 521,000 a year ago to 468,000, data customers increased from 386,000 to 398,000 and phone customers from 158,000 to 165,000.
Revenues for Mediacom Broadband were $221.2 million, which is a 2.6 percent increase over a year ago. Operating income before depreciation and amortization was $83.4 million, reflecting a 5 percent increase from the prior-year period. Free cash flow was $17.7 million, compared with $10.7 million in the prior-year period.
Mediacom LLC’s revenues were $168.7 million, reflecting a 1.4 percent increase from the prior-year period. Adjusted OIBDA was $68.4 million, reflecting a 7.5 percent increase from the prior-year period, while free cash flow was $24.5 million, compared with $19.5 million a year ago.
Mediacom and its subsidiaries went private last year under the direction of founder and CEO Rocco Commisso.
Mediacom, the nation’s eighth-largest cable operator, started its all-digital reclamation project last year in several of its larger systems, which has led to an increase in HD channel offerings and the launch of faster DOCSIS 3.0-based data tiers.