Insight Communications turned in what CEO Michael Willner called a remarkable 2008, having sustained growth in nearly every service category.
The recession has yet to make its effects felt in cable. Insight and Cox Communications (story here) both reported growth in 2008, despite what both described as a challenging economy.
Operating statistics included the addition of 33,700 basic customers. Additions in both digital subscribers and phone subscribers set company records, and growth in broadband remained solid.
The company reported nearly 760,000 customers, representing 1.88 million revenue-generating units at the end of 2008. Insight said that translates to annual growth of 5 percent in customers and 16 percent in RGUs.
“2008 was a remarkable year for Insight, with 5 percent basic customer growth and record?breaking growth for our phone and digital services,” said Michael Willner, CEO and vice chairman of Insight. “This year’s results are all the more impressive coming as they do after a terrific 2007 and in the midst of a very challenging economic environment. I am very proud of our team.”
Insight Customer Net Additions
|
|
2005 |
2006 |
2007 |
2008 |
|
Basic |
13,000 |
24,500 |
34,600 |
33,700 |
|
Growth (%) |
2.2 |
4.0 |
5.4 |
5.0 |
|
Digital |
34,100 |
54,000 |
55,200 |
58,900 |
|
Broadband |
70,100 |
71,000 |
77,800 |
72,500 |
|
Phone |
25,200 |
28,500 |
68,200 |
89,400 |
