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.
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.
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.