Mediacom Video Subscribers Down 9%
Mediacom’s video subscribers dropped 9% in the second quarter, while broadband subscribers jumped. So did ad revenues, although at a modest pace in a political year.
The cable operator reported that subscribers fell to 1.04 million, while broadband subscribers increased 4.6% to close to 900,000. The country’s eighth-largest cable operator posted ad revenues at nearly $17 million, up close to 3%.
Revenues from video operations fell about 5% to $209 million, while total company revenues were up about $4 million.
Total OIBDA, the metric the company uses to gauge its health, increased 1.2% to $150 million.
CEO Rocco Commisso has been vocal about the rising price of content. He proposed to Congress that the company would freeze prices on video packages for two years if content providers would do the same.
DSLReports.com and Multichannel News reported that with broadband this month, Mediacom has adopted a usage-based pricing plan.
Mediacom markets include the Tallahassee, Fla., Madison, Wis., and Kansas City, Mo. areas, all in important swing states offering the potential for political dollars.