Mediacom: Broadband Unit Up, Local TV Sales Dip
Mid-size cable operator Mediacom Communications took in slightly better financial results in the fourth quarter of 2011 for its two main cable/broadband/phone divisions -- but local
TV advertising sales were slightly lower.
The company's bigger Mediacom Broadband unit witnessed hikes, with fourth-quarter revenues climbing 2% to $219.1 million, and for 2011 overall growing 3.2% to $874.8 million. Its Mediacom LLC division witnessed similar hikes. Overall revenues were $167.9 million -- a 2.3% increase from the same period a year ago, and a 3.7% gain for the full 2011 year to $675.6 million.
As with most cable system operators, Mediacom Communications, which has operations in the Midwest and Southeastern markets, has seen continuing lethargy in older video services business -- losing customers year to year, while its new broadband/phone services have climbed.
Still, as with other cable operators, Mediacom raised the average monthly bill to its basic subscribers -- $120.92 for Mediacom Broadband and $116.48 for Mediacom LLC.
For the 2011 year, Mediacom Broadband lost about half a percent in revenues from its video business to $516.0 million, while its high-speed broadband operation grew 11.4% to $238.6 million and phone climbed 9% to $70.2 million.
But local TV advertising sales headed in the other direction, down 2.1% to $50.0 million.
Mediacom Communications video business at its Mediacom LLC unit was virtually flat at $400.4 million in revenue, while broadband business rose 11.4% to $176.1 million and phone business grew 9% to $63.5 million.
As with its Mediacom Broadband business, advertising sales at Mediacom LLC also dropped -- down 8.8% to $15.5 million.