Mediacom Communications reported some of its strongest financial growth in years in the fourth quarter, fueled primarily by gains in high-speed data customers.
The mid-sized cable operator lost about 7,000 basic-video subscribers in the fourth quarter, a big improvement over the 10,000 it lost in the same period in 2014. For the full year, Mediacom nearly halved its video losses to 35,000 from 55,000, its best performance in seven years. The company added that of those video losses, about 75% to 80% were video-only customers.
On the high-speed data front Mediacom achieved another seven-year best – it added 72,000 HSD customers for the year – and its phone customer additions more than doubled from 14,000 in 2014 to 33,000 in 2015, its best year since 2010. For the quarter, HSD additions improved to 18,000 vs. 16,000 in the prior year while phone additions were slightly better at 9,000, comparted with 8,000 in the same period in 2014.
The improved customer growth translated into financial gains too. Revenue at its Mediacom Broadband and Mediacom LLC units rose 3.9% and 4,3%, respectively, during the quarter. Adjusted OIBDA at the units increased 3.7% and 6.1%, respectively.