Mediacom (Nasdaq: MCCC) follows trend; adds broadband, subtracts basic cable subs

Following a cable industry-wide trend that has analysts and competitors in a frenzy, Mediacom Communications (Nasdaq: MCCC) said it gained 13,000 high-speed data subs and lost 13,000 basic cable subscribers--seems like a wash--in the third quarter. The loss could even be seen as a gain because the company dropped 19,000 basic subs in the third quarter last year.

Basic cable subscribers have been leaving MSOs for alternate viewing sources, including competitive satellite and telco services and over-the-top providers, while others have been signing on for cable's high-speed broadband services to, among other things, access over-the-top content.

The eighth largest MSO posted a revenue gain of 3 percent based primarily on those broadband customers along with a bunch of new phone customers. Video revenue, though, dropped off $2 million to $229 million thanks to those ebbing basic subscribers.

Besides the high-speed data additions, Mediacom added 7,000 phone subscribers and 12,000 digital video subscribers.

For more:
- see this news release

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3Q results: Comcast (Nasdaq: CMCSA) keeps making money, losing subscribers
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