Regional telco HickoryTech--which in August pulled in a $16.8 million broadband stimulus grant to extend its middle-mile fiber optic network across greater Minnesota, through its subsidiary Eventis--has pushed past the 10,000 subscriber mark for its digital TV product, which includes 13 communities served on its IPTV platform.
The company, the largest telecom based in Minnesota, launched its digital TV play in 2005 and has been adding new service areas steadily, expanding to 18 southern Minnesota communities, and showing a CAGR of some 32 percent in its subscriber base.
It's also been adding new services, including DVR, more than 50 HD channels, and new channels, including the recent addition of NFL Network.
In July, it announced a deal to use Nokia Siemens Networks to provide its multi-screen IPTV platform that allows the operator to deliver high- definition video and advanced capabilities including personal video recording (PVR), faster channel change speed and personalized, third party apps.
The new NSN platform allows users in 13 communities to personalize their content by adding live weather and stock market information to be accessed via onscreen widgets. The software facilitates faster development and rollout of interactive applications, creating new revenue streams for the operator, and delivering a more useful service to subscribers. The contract scope also includes professional services, including care services.
"We're proud of our broadband expansion and excited to reach this Digital TV milestone," said Damon Dutz, president of HickoryTech's Consumer and Network Solutions Division. "We appreciate the loyalty of our customers and are committed to providing competitive broadband services and outstanding local support to our neighbors and friends in the communities we serve."
HickoryTech's (Nasdaq: HTCO) revenue and net income both showed strong growth in the first half of the year, with revenues of $77 million, up 18 percent on a year-to-year basis, with net income up 31.9 percent to $5 million. It reports third-quarter earnings Oct. 25.
HickoryTech provides communication services to residential and commercial customers in Minnesota, Iowa and to a lesser extent, communities in North Dakota, South Dakota and Wisconsin.
- see this release
HickoryTech Awarded $16.8 Million Broadband Stimulus Grant
HickoryTech to Report Third Quarter 2010 Results on October 25