Mediacom reported a 5.2% increase in fourth-quarter revenue to $460.5 million, driven by a 12.4% surge in high-speed data revenue and a 7.8% increase in business services coin.
Together, these two business sectors accounted for nearly 47% of the New York-based mid-sized cable operator’s revenue in the final three months of 2016.
Mediacom reported a 1.2% uptick in revenue from video services, despite losing another 6,000 pay-TV customers in the fourth quarter. The result of programming expense cuts? Tough to say—Mediacom is not actually a publicly traded company and doesn’t conduct an associated call with investment analysts.
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For the full year, the operator lost 27,000 video customers, about 3.2%. It ended the quarter with a base of around 828,000 pay-TV users.
Mediacom added 11,000 residential broadband users in the period, and 71,000 high-speed data (HSD) customers for all of 2016. A 6.5% increase in the company’s HSD base comes as it makes significant investments in gigabit-speed broadband. Late last year, the operator pledged to have its entire footprint upgraded to the DOCSIS 3.1 network technology standard by the end of 2016.
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Capital expenditures for Mediacom were $88.2 million in the fourth quarter, compared to $76.7 million in the prior year period
With the a corresponding uptick of 12,000 landline phone users, the operator posted a 3.8% increase in PSUs for the fourth quarter.
Mediacom ended Q4 with total debt of around $2.78 billion, a $225 million year-over-year reduction.