Mediacom Communications saw its third quarter revenue increase slightly in the face of declining video subscribers.
Privately held Mediacom, the nation’s eighth-largest cable operator, reported a net quarterly decline of 8,000 primary service units (PSU) across its two subsidiaries.
Mediacom Broadband’s basic video subscribers went from 535,000 in the same quarter a year ago to 504,000 the third quarter that ended Sept. 30. Broadband subscribers increased from 529,00 a year ago to 554,00 while phone customers rose from 204,000 to 213,000.
Revenues for Mediacom Broadband were $237.6 million, which was a 3 percent increase over a year ago. Operating income before depreciation and amortization (OBIDA) was $90 million, reflecting a 2 percent increase from the same period a year ago. Free cash flow came in at $18 million compared to $17.4 million a year ago.
Over on the Mediacom LLC side of the ledger, the company’s video subscribers dropped from 425,000 down to 396,000 in the third quarter of this year. Data customers increased from 427,000 to 443,000 and phone customers went from 176,000 to 179,000.
Mediacom LLC’s revenues were $178 million, reflecting a .7 percent increase from the prior year period. Its adjusted OIBDA was $70.4 million, which was a .8 percent decrease from a year ago. Free cash flow stood at $13 million compared to $17 million in the same quarter a year ago.
Mediacom and its subsidiaries went private in 2011 under the direction of founder and CEO Rocco Commisso.