Mediacom cuts video subscriber losses by two-thirds in fourth quarter

Mediacom
After much higher subscriber losses a year ago, Mediacom appears to be stemming the tide. (Image: Mediacom)

Mediacom experienced slowing decay of its video subscriber base in the fourth quarter, with losses decelerating to just 2,000, after the cable operator lost 6,000 customers in both the fourth quarter of 2016 and the most recent third quarter.

The privately held New York-based MSO, which reports earnings conditionally to creditors, reported revenue growth of 2.5% year over year to $471.8 million.

Meanwhile, the company’s preferred metric, “operating income before depreciation and amortization” (OIBIDA), increased by 0.5% to $184.1 million.

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RELATED: Mediacom revenue up 3.8% in Q3 on growing residential broadband and business services

The company continues to execute on a popular strategy among midsized-to-smaller cable operators.

While video service revenue shrunk in the fourth quarter by 2.7% to $193.7 million, broadband revenue spiked 9.1% to $170.9 million. Business service sales, meanwhile, increased by 8.% to $64.4 million. 

RELATED: Mediacom latest to deploy Evolution Digital hybrid set-top

Unlike others in the cable business, however, Mediacom doesn’t appear done with the video business. The cable company, which announced a deal to deploy Evolution Digital’s TiVo-powered hybrid QAM/IP set-tops earlier this month, saw its video base shrink by just 7,000 users, or 0.8%, in 2017. 

In 2016, the operator lost 27,000 pay TV users. 

You can see Mediacom’s entire fourth quarter earnings release here